The US company Nuburu, a provider of high-performance industrial lasers, has received a notice from NYSE American LLC. Accordingly, the share price does not meet the required minimum standards of the stock exchange.
Nuburu develops and manufactures high-power blue lasers for industrial applications such as laser soldering and additive manufacturing. According to the company, its proprietary technology can accelerate the welding of copper, for example.
As Nuburu explains in a press release, the NYSE American LLC complained that the stock had been trading below a certain minimum price for an extended period of time. Nuburu now has until June 2024 to bring about a sustained improvement in the share price.
As a possible countermeasure, Nuburu cites a reverse stock split, in which several shares are combined into one in order to sustainably increase the share price. The notification does not change the operational processes or reporting obligations, it continues.
Nuburu thus joins a series of stock exchange warnings for companies in the 3D printing sector. Previously, the publicly traded companies Desktop Metal, Velo3D and Markforged had already been hit.
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