NUBURU Issues Shareholder Letter on Strategic Progress and NYSE American Appeal
NUBURU's 1-for-40 reverse stock split took effect September 1, 2026, and the stock began split-adjusted trading on the OTC Pink Market under the temporary symbol BURUD, which stays in place for 20 business days before reverting to BURU. The split was undertaken to address price-related considerations in the pending NYSE American appeal, but NYSE American trading remains suspended and the company acknowledged there is no assurance of when or whether trading will resume. On the M&A front, NUBURU expects to close its acquisition of a 70% controlling interest in Italy's Tekne S.p.A.
Key figures
- Tekne stake
- 70% controlling interest
- Split effective
- September 1, 2026, 4:30 p.m. ET
- Temporary symbol
- BURUD (D suffix for 20 business days)
- Reverse split ratio
- 1-for-40
- Tekne closing window
- first half of October 2026
- Golden power authorization
- August 5, 2026
- Tekne order value preliminary
- $135.4 million
AI analysis
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