Nuburu implementing 1-for-40 reverse stock split effective June 24

Nuburu announced a shareholder letter from its CEO, Brian Knaley. Dear NUBURU Shareholders, Partners, and Family: “For the last several months, NUBURU has been realigning and refocusing our business and operations and we are beginning to see the positive results of these intense efforts. We are seeing increased orders which typically require a sales and qualification process that can take 12 months or longer, we have received prestigious recognitions, we have realigned our workforce, we have reduced our outstanding debt by 25%, and we continue to pursue a variety of transactions to further reduce our debt, and we have established new, ongoing funding relationships that are critical to an emerging growth company like Nuburu. As part of our overall recalibration, consistent with the authorization previously provided by shareholders, we will be implementing a 1-for-40 reverse stock split of our outstanding stock effective June 24 and expect that our stock would begin trading on June 25, 2024 on a split-adjusted basis under a new CUSIP number, 67021W301. We believe this will benefit shareholders by reducing the number of outstanding shares and increasing the share price, making the stock more appealing to institutional investors and analysts who tend to avoid stocks with low prices. Additionally, it will help the Company continue to satisfy the minimum price requirements for listing on the NYSE and make it easier for institutional investors to compare NUBURU’s stock price with its peers. The reverse stock split does not affect the Company’s fundamental value or the proportional ownership of shareholders. Your stake in the Company remains unchanged.