Nuburu, Inc. (BURU): debt financing — Nuburu raises additional $1.3M via convertible notes and warrants, total $9.2M in June capital

Nuburu, Inc.

Aggregate principal of $1.3M in convertible notes bearing 7% interest, due June 23, 2026.
Warrants to purchase up to 1,889,535 shares at $1.03, expiring June 23, 2028.
Conversion price set at $0.688; upon a sale event, premium of 150% of principal is payable.
Issued to investors including David Seldin (Anzu) and CST Global (affiliate of David Michael); one-year lock-up on underlying shares.
Proceeds used for general corporate purposes to fund commercialization.

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 aggregate principal amount of $1.3 million with certain investors including existing investors at seven percent per year maturing on the earlier of June 23, 2026, or the occurrence of an Event of Default.

Instrument: convertible notes
Principal: aggregate principal amount of $1.3 million
Counterparty: certain investors including existing investors
Rate: seven percent per year
Maturity: on the earlier of June 23, 2026, or the occurrence of an Event of Default
Event: incurrence

Exact text from the filing

the Company entered into an additional Note and Warrant Purchase Agreement (as amended, the “Purchase Agreement”) with certain investors including existing investors, for the sale of (i) convertible promissory notes (“Convertible Notes”) in the aggregate principal amount of $1.3 million

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Nuburu, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-030540

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