debt
confidence high
sentiment negative
materiality 0.65
Nuburu issues convertible notes for $1.5M cash, extinguishes $895K senior notes with Indigo Capital
Nuburu, Inc.
- Issued $1,578,495 face amount convertible note to Indigo Capital for $1,500,000 cash; no interest, matures March 1, 2026.
- Conversion price is 20% discount to lowest VWAP in 5 days prior to conversion.
- Issued $894,708.31 face amount note to extinguish existing senior notes; conversion at 33.33% of lowest VWAP.
- Conversion limited to 19.9% of outstanding common stock until stockholder approval.
- Company obligated to register shares issuable upon conversion.