These are top 10 stocks traded on the Robinhood UK platform in July
CENTENNIAL, Colo. - Nuburu, Inc. (NYSE American:BURU) announced Thursday that its stockholders have approved key proposals supporting the company’s financing strategy, which management describes as essential to its transformation into a defense-tech focused enterprise. According to InvestingPro data, the company’s stock has experienced significant volatility, with shares down over 70% in the past year and currently trading at $0.32, well below its 52-week high of $4.45.
The approved measures include the election of Alessandro Zamboni as a Class III director, an increase in authorized share capital, and the ratification of financing agreements aimed at addressing the company’s working capital needs. These measures come at a critical time, as InvestingPro analysis reveals concerning financial health metrics, including a current ratio of 0.03 and significant revenue decline of over 96% in the last twelve months. Get access to 10+ additional exclusive ProTips and comprehensive financial metrics with InvestingPro.
"This stockholder vote is a resounding endorsement of the strategic goals of our transformation plan commenced in early January," said Zamboni, who serves as Executive Chairman of Nuburu.
Central to the company’s strategic shift is a planned investment in Italian firm Tekne S.p.A., which Nuburu describes as core to its "Defense & Security Hub initiative." According to the company, Tekne’s product portfolio includes "Tactical Bubble" defense products currently used in Italian military exercises, which are projected to generate revenue exceeding €50 million.
The completion of the Tekne investment requires Golden Power authorization under Italian law, with the review process expected to conclude by August 5, 2025, unless extended by regulatory requests for additional information.
Stockholders also authorized a potential reverse stock split if needed to meet exchange listing standards, though management indicated this is not a priority unless required for "driving long-term sustainable growth."
Nuburu, founded in 2015 as a developer of industrial blue laser technology, is now pursuing expansion into defense technology, security, and critical infrastructure sectors under Zamboni’s leadership. The company faces significant challenges, with InvestingPro data showing negative EBITDA of -$16.53 million and weak gross profit margins in the last twelve months.
The information in this article is based on a company press release statement.
In other recent news, Nuburu Inc. is making significant strides in its strategic transformation with several key developments. The company is progressing positively through the regulatory approval process for its acquisition of Tekne SpA, an Italian defense technology company. This acquisition is expected to enhance Nuburu’s presence in defense markets, with Tekne’s Tactical Bubble system projected to generate over €50 million in revenue. Concurrently, Nuburu has secured a $100 million equity purchase agreement with YA II PN, Ltd., providing flexibility in financing its growth initiatives, including the Tekne acquisition. The company has also filed a $100 million Form S-3 with the SEC to support its acquisition strategy, aiming to bolster revenues significantly in 2025. Additionally, Nuburu is forming a strategic working group to advance its Blue-Laser Business Unit, aligning with its broader strategy to enter defense-tech markets. The company is planning to establish a new facility to support this unit, which will include a warehouse, laboratories, and office space. These initiatives reflect Nuburu’s commitment to expanding into high-growth sectors like defense-tech, security, and operational resilience solutions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.