SplitSep 2, 2026, 06:08 AM
Nuburu Completes 1-for-40 Reverse Stock Split to Meet NYSE Listing Rules
AI Summary
Nuburu, Inc. has completed a 1-for-40 reverse stock split, effective September 1, 2026, to meet NYSE American's minimum trading price requirements. The company anticipates trading on a split-adjusted basis on the OTC Market starting September 2, 2026. This action is intended to address the trading suspension and delisting proceedings initiated by NYSE American due to the stock's low trading price. The reverse split will reduce the number of outstanding shares significantly and will temporarily alter the trading symbol to 'BURUD'. The company acknowledges uncertainty regarding the success of its appeal to avoid delisting and the potential negative impacts of continued trading on the OTC Market.
Key Highlights
- Nuburu, Inc. implemented a 1-for-40 reverse stock split effective September 1, 2026.
- The reverse stock split aims to regain compliance with NYSE American's minimum trading price requirement.
- Trading on the OTC Market is expected to be on a split-adjusted basis starting September 2, 2026.
- The number of outstanding shares is expected to decrease from approximately 370.5 million to 9.3 million.
- The trading symbol will temporarily change to 'BURUD' for 20 business days before reverting to 'BURU'.
- A new CUSIP number, 67201W509, has been assigned to the common stock.
Price Impact
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