News: Optoelectronics
6 May 2025
NUBURU notified of non-compliance with NYSE American Company Guide
NUBURU Inc of Centennial, CO, USA — which was founded in 2015 and develops and manufactures high-power industrial blue lasers — has received a notice from NYSE Regulation indicating that it not in compliance with Section 1003(a)(i) of the NYSE American LLC Company Guide, which requires a company to maintain stockholders’ equity of $2m or more if it has reported losses from continuing operations or net losses in two of its three most recent fiscal years.
As disclosed in its most recent annual report on Form 10-K, NUBURU has sustained and continues to experience operating losses and negative cash flows from operating activities, and there is no assurance that it will be able to raise sufficient capital in the future, all of which contributed to the firm having negative stockholders’ equity, raise substantial doubt about its ability to continue as a going concern, and resulted in the company’s independent auditor including a going-concern qualification in its audit opinion included with the 10-K.
The notice has no immediate effect on the listing or trading of NUBURU’s securities, and its common stock will continue to trade on NYSE American under the symbol ‘BURU’ with the designation of ‘.BC’ to indicate that it is not in compliance with NYSE American’s continued listing standards.
As required by the Company Guide, NUBURU will submit a detailed plan by 29 May, advising of actions it has taken or will take to regain compliance with the continued listing standards by the compliance deadline of 29 October 2026. If NYSE Regulation determines to accept the plan, the NUBURU will be subject to periodic reviews, including quarterly monitoring for compliance. If the plan is not accepted, or the company does not make progress under the plan during the plan period, NYSE may commence delisting proceedings. However, NUBURU is entitled to appeal a staff delisting determination in accordance with the Company Guide.
NUBURU believes that, upon consummation of certain of the transactions that it has recently announced, it will be able to regain compliance. However, such transactions are subject to regulatory approvals, stockholder approval, and other closing conditions and, as a result, may not be consummated. Even if consummated, such transactions may not achieve the anticipated results or benefits to the company.
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NUBURU regains compliance with NYSE American Market
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