Nuburu (f/k/a Tailwind) reports 2022 net income of $11.1M; trust cash drops to $33M on redemptions

Nuburu, Inc.

Net income of $11.1M for FY2022, down from $17.8M in FY2021, driven by lower fair value of warrant liabilities.
Cash and securities in trust account fell to $33.0M at Dec 31, 2022 from $334.4M a year earlier due to redemption of 30.2M shares.
Business combination with Nuburu completed Jan 31, 2023; combined company now reports as Nuburu, Inc. (NYSE: BURU).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Nuburu, Inc. reported the fiscal year ended December 31, 2022 results: net income Net income of $11.1 million.

Period: the fiscal year ended December 31, 2022
Net income: Net income of $11.1 million
Result: reported results

Exact text from the filing

the Company issued a press release announcing financial results for Tailwind for the year ended December 31, 2022

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Nuburu, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-006711

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