Nuburu secures $5.5M bridge loan with warrants, secured by patent portfolio valued >$100M

Nuburu, Inc.

$5.5M zero-interest notes with 10% OID; mature upon closing of ≥$20M credit facility or 12 months.
Warrants for 100% of principal at $0.25/share (5-year term); additional 25% warrant coverage if unpaid at 6/9 months.
Patent portfolio used as collateral; senior secured convertible notes rank senior via intercreditor agreement.
Lenders include affiliate of executive chairman and Anzu Partners (26% common, 45% preferred holders).
Registration of warrant shares targeted by Feb 1, 2024; aggregate share issuance capped at 19.9% until stockholder approval.

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.

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

Nuburu, Inc. entered into Note and Warrant Purchase Agreement with the lenders identified therein (the "Lenders") valued at $5.5 million (effective 2023-11-13).

Action: entry
Agreement: notes offering
Counterparty: the lenders identified therein (the "Lenders")
Value: $5.5 million
Effective: 2023-11-13

Exact text from the filing

On November 13, 2023, Nuburu, Inc. (the “Company”) entered into a Note and Warrant Purchase Agreement (“Purchase Agreement”) with the lenders identified therein (the “Lenders”) providing for a loan with an aggregate principal amount of $5.5 million (the “Loan”).

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Nuburu, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-064014

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