247 Market News Nuburu Closes $65 M Comprehensive Financing
DENVER, Colo., Oct 08, 2024 (247marketnews.com)- Nuburu (NYSE: BURU) reported closing a comprehensive $65 million financing from Liqueous LP, designed to deliver predictable, strategic, and low-cost capital while minimizing dilution.
Brian Knaley, Nuburu’s CEO, commented, “We are excited to partner with Liqueous LP in what is a significant step forward for our company. This financing continues our commitment to strengthening our balance sheet and financial position and underscores the confidence Liqueous has in our groundbreaking technology and our ability to transform key industries. The fact that this financing comes with favorable terms and limited dilution is a testament to the value both sides see in our long-term potential.”
Liqueous LP plans on providing Nuburu an initial $3 million investment via pre-funded warrants, followed by eight $1.25 million weekly payments and provide Nuburu access to a $50 million equity line of credit (ELOC), which is designed to accelerate Nuburu’s expansion in sectors such as e-mobility, healthcare, defense, and consumer electronics
Brian Knaley, Nuburu’s CEO, commented, “We are excited to partner with Liqueous LP in what is a significant step forward for our company. This financing continues our commitment to strengthening our balance sheet and financial position and underscores the confidence Liqueous has in our groundbreaking technology and our ability to transform key industries. The fact that this financing comes with favorable terms and limited dilution is a testament to the value both sides see in our long-term potential.”
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