News: Optoelectronics
1 July 2024
NUBURU postpones strategic reverse stock split to 10 July
NUBURU Inc of Centennial, CO, USA — which was founded in 2015 and develops and manufactures high-power industrial blue lasers — has revised the date for implementation of its 1-for-40 reverse stock split, from 1 July to 10 July, in order to “better coordinate with our overall strategic efforts to pursue resuming trading on NYSE and attract larger investors who may not otherwise invest in low-price stock,” says CEO Brian Knaley.
The common stock should begin trading on a split-adjusted basis at the commencement of trading on 11 July under the existing trading symbol ‘BURU’, but with a new CUSIP number, 67021W301.
The firm was unable to implement the reverse split when originally planned on 24 June, due to the New York Stock Exchange (NYSE) halting trading in its common stock. NUBURU appealed the NYSE’s decision, and in the meantime has been traded on the over-the-counter market.
NUBURU says that it cannot provide assurance that its trading price will increase as anticipated or, if such increase does occur, that it will be sustained, or that such increase will result in the company resuming trading on NYSE American.
NUBURU to implement 1-for-40 reverse stock split on 1 July
