secwatch.observer — SEC 8-K summary
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Issuer:     Nuburu, Inc. (BURU)
CIK:        0001814215
Form:       8-K
Filed at:   2023-11-15T23:59:59+00:00
Accession:  0000950170-23-064014
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1814215/000095017023064014/0000950170-23-064014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1814215/000095017023064014/buru-20231113.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-064014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer