Nuburu announces notice of noncompliance with NYSE American listing standards

Nuburu announced that on December 28, 2023, it received a deficiency letter from the NYSE American LLC indicating that the company 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 the Company that the NYSE American has determined that the shares of the Company’s 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 Company’s continued listing is predicated on it demonstrating sustained price improvement by no later than June 28, 2024. The Company 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 Company regaining compliance by June 28, 2024. The Company’s receipt of the Notice does not affect the Company’s business, operations or reporting requirements with the Securities and Exchange Commission.