News: Optoelectronics
5 January 2024
NUBURU receives notice of non-compliance with NYSE American listing standards
NUBURU Inc of Centennial, CO, USA — which was founded in 2015 and develops and manufactures high-power industrial blue lasers — says that on 28 December it received a deficiency letter from the NYSE American LLC small-cap equity market indicating that it is not in compliance with the continued listing standards as set forth in Section 1003(f)(v) of the NYSE American Company Guide. Specifically, the notice informed NUBURU that NYSE American has determined that the shares of its common stock have been selling for a low price per share for a substantial period of time and, pursuant to Section 1003(f)(v) of the Company Guide, the firm’s continued listing is predicated on it demonstrating sustained price improvement by no later than 28 June.
NUBURU says that it intends to monitor the price of its common stock and consider available options, including conducting a reverse stock split, if its common stock does not trade at a consistent level likely to result in the firm regaining compliance by 28 June.
Receipt of the notice does not affect NUBURU’s business, operations or reporting requirements with the US Securities and Exchange Commission (SEC).
NYSE American commences delisting proceedings for NUBURU’s warrants
