Nuburu, Inc. (BURU): debt financing — Nuburu raises $7.925M via convertible notes + warrants from existing investors with 1-year lockup

Nuburu, Inc.

Cash infusion of $7.925M from convertible promissory notes (7% interest, mature June 2026) and warrants to purchase up to 11.5M shares at $1.03.
Conversion price of notes set at $0.688 per share; warrants have exercise price of $1.03 and expire June 2028.
NYSE American granted exception from stockholder approval under Section 710(b); special committee of disinterested directors approved.
Shares underlying the notes and warrants subject to a one-year lockup; registration statement expected after February 6, 2024.
Investors include Wilson-Garling 2023 Family Trust, Eunomia LP, David Seldin, and Curtis N Maas Revocable Trust.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Nuburu, Inc. incurred convertible notes of $7.925 million with Wilson-Garling 2023 Family Trust, Eunomia, LP, David Seldin, Curtis N Maas Revocable Trust, and certain other existing investors at seven percent per year maturing June 23, 2026.

Instrument: convertible notes
Principal: $7.925 million
Counterparty: Wilson-Garling 2023 Family Trust, Eunomia, LP, David Seldin, Curtis N Maas Revocable Trust, and certain other existing investors
Rate: seven percent per year
Maturity: June 23, 2026
Event: incurrence

Exact text from the filing

On June 12, 2023, Nuburu, Inc. (the “Company”) entered into a Note and Warrant Purchase Agreement (the “Purchase Agreement”) primarily with certain existing investors (each, an “Investor”) for the sale of (i) convertible promissory notes (“Convertible Notes”) in the aggregate principal amount of $7.925 million

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Nuburu, Inc. entered into Note and Warrant Purchase Agreement with certain existing investors valued at $7.925 million (effective 2023-06-12).

Action: entry
Agreement: equity purchase
Counterparty: certain existing investors
Value: $7.925 million
Effective: 2023-06-12

Exact text from the filing

On June 12, 2023, Nuburu, Inc. (the “Company”) entered into a Note and Warrant Purchase Agreement (the “Purchase Agreement”) primarily with certain existing investors (each, an “Investor”) for the sale of (i) convertible promissory notes (“Convertible Notes”) in the aggregate principal amount of $7.925 million

View on SEC.gov

26 debt financings filed in the last 30 days. Browse all debt financings →

Nuburu, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-027728

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