Nuburu raises $307K via two convertible notes with dilutive terms

Nuburu, Inc.

Issued $150,000 unsecured convertible note to Indigo Capital LP on July 16, 2025, bearing no interest, maturing July 15, 2026.
Issued $172,700 face amount convertible note to 1800 Diagonal Lending on July 21, 2025, at 10% interest, maturing April 30, 2026 (capital infusion $157,000).
Conversion prices: Indigo at 80% of lowest 5-day VWAP; Diagonal at 25% discount to lowest 10-day trading price.
Conversion limited to 19.9% of outstanding common stock until stockholder approval; ownership caps of 9.9% (Indigo) and 4.99% (Diagonal).
Notes subordinated to Series A Preferred stock in dividend and liquidation rights.

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