debt
confidence high
sentiment negative
materiality 0.85
Nuburu receives default acceleration notice on ~$6.8M Senior Convertible Notes
Nuburu, Inc.
- Lead Investor issued notice of default and acceleration on Dec 16, 2024.
- Default triggered by failure to make required repayments on existing debt.
- Aggregate principal amount of Senior Convertible Notes outstanding ~$6.8M.
- Acceleration demands immediate payment; event of default declared.
- Senior Convertible Notes carry 7% interest, originally due June 2026.