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The latest announcement is out from Nuburu (BURU).
Nuburu, Inc. is set to strengthen its financial position by converting outstanding promissory notes into shares of common stock, thereby reducing debt and potentially increasing its stockholder base. This move involves issuing millions of shares, while ensuring single investors do not surpass ownership thresholds. Additionally, the company has planned a reverse stock split, effective June 24, 2024, with a 1-for-40 ratio, aimed at boosting market price and beneficially affecting stockholder value, though outcomes cannot be guaranteed. The reverse stock split will not change the total authorized capital or the stock’s par value, and stockholder equity percentages will remain largely the same post-split.
See more data about BURU stock on TipRanks’ Stock Analysis page.