other material
confidence high
sentiment negative
materiality 0.75
Nuburu restates Q2 2026 financials due to $761K fair-value error on Tekne note
Nuburu, Inc.
- Restates unaudited Q2 2026 10-Q; asset value increases by $761,001 due to Tekne convertible note valuation error.
- Fair value of Tekne Convertible Note Receivable rises to $24.2M from $23.4M; conversion option up to $1.5M from $0.8M.
- Used €15.2M Tekne equity value instead of correct €25.4M; restatement per ASC 250 in amended 10-Q.
- Error determined material; discussed with auditors WithumSmith+Brown, PC.