NUBURU đảm bảo chương trình tài trợ chiến lược trị giá 65 triệu đô la để đẩy nhanh quá trình thương mại hóa
News: Optoelectronics
8 October 2024
NUBURU secures strategic $65m funding program to accelerate commercialization
NUBURU Inc of Centennial, CO, USA — which was founded in 2015 and develops and manufactures high-power industrial blue lasers — has announced a funding program of about $65m, comprising $15m of direct private investment in public equity (PIPE) and $50m equity line of credit, enabling it to accelerate commercialization with predictable access to capital.
Specifically, the firm has entered into a master transaction terms agreement with Liqueous LP, a Delaware limited partnership pursuant to which NUBURU and the investor established a strategic financing framework for short-term and long-term financing for the company. The master agreement provides for: (i) an immediate capital infusion from the investor of $3m at the current market price, (ii) subsequent weekly capital infusions of $1,250,000 at market price until an additional $10m has been invested; (iii) the acquisition and conversion of certain outstanding notes; (iv) an adjustment to current market price of certain outstanding pre-funded warrants held by the investor having a current cash value of about $2.2m; and (v) the implementation of a $50m equity line of credit pursuant to which NUBURU may require the investor to purchase common stock from time-to-time in the amounts and for the prices determined in accordance with the terms of the equity line of credit which includes an optional advancement of $2.5m through a convertible note with an 8% annual interest rate and with a conversion rate at a 10% discount to the lower of the previous day’s closing price or the prior five-day average.
No issuances pursuant to the financing plan will be made to the extent such issuances would: (a) cause the investor to hold greater that 4.99% at any time; or (b) result in the issuance of greater than 19.9% of NUBURU’s outstanding common stock, unless any stockholder approval that is required under NYSE American rules is first obtained.
Strategic partnerships
NUBURU notes that its blue laser technology is protected by 233 patents and includes both public and private sector applications. Strategic partnerships include past and active contracts with NASA and the US Air Force.
Long-term growth alignment
This financing provides both an immediate capital infusion and access to a long-term capital facility to support NUBURU’s strategic goal of long-term, sustainable growth. The firm reckons that these infusions, combined with its IP portfolio, position it to achieve commercialization and continue to advance and expand its IP portfolio.
