News: Optoelectronics
17 June 2024
NYSE American to begin delisting NUBURU
NYSE American LLC says that the staff of NYSE Regulation has begun delisting the common stock of high-power industrial blue laser maker NUBURU Inc of Centennial, CO, USA (which was founded in 2015) from the NYSE American stock exchange. Trading in the firm’s common stock has been suspended.
NYSE Regulation says that, pursuant to Section 1003(f)(v) of the NYSE American Company Guide, NUBURU is no longer suitable for listing due to the selling price of the common stock falling below $0.10.
NYSE American will apply to the US Securities and Exchange Commission (SEC) to delist the common stock upon completion of all applicable procedures.
In the meantime, NUBURU plans to appeal the delisting to the Listings Qualifications Panel of the Committee for Review of the exchange’s board of directors.
In the interim, FINRA’s Department of Market Operations has assigned the symbol ‘BURU’ for quotation and trading of NUBURU’s stock in the over-the-counter market (OTC Markets).
“It is unfortunate that NUBURU is having to contend with this at a time when it is successfully reducing debt, raising capital, taking on new orders, and receiving prestigious recognitions in our industry,” comments NUBURU’s CEO Brian Knaley. “We continue to believe the company has a bright future and the actions of NYSE will in no way deter our commitment to strengthen our relationships with our shareholders, key financing partners, employees, customers, and vendors in order to advance the company’s business plan and increase shareholder value.”
NUBURU raises $3m from strategic investors
NUBURU evaluating strategic alternatives
NYSE American commences delisting proceedings for NUBURU’s warrants
NUBURU announces $5.5m bridge financing
