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Meanwhile, the company stated that after implementing the necessary reverse stock split, its common stock will resume trading on the NYSE American. This financing will provide critical funding support for NUBURU to accelerate the commercialization of its high-power blue laser technology in industrial applications such as additive manufacturing and electric vehicle welding. The company emphasized that the reverse stock split is a necessary step to meet the exchange’s continued listing standards and will ensure that shareholders’ interests are properly maintained after the equity structure adjustment.

The company expects to suspend mining and processing operations at its Moa joint venture next week, and will carry out planned maintenance activities during the shutdown. Sherritt's refinery in Alberta has sufficient inventory to operate until mid-April; its Energas SA energy joint venture in Cuba is currently operating as planned. Expand

“We are currently studying how to design an additional tool,” the German Ministry of Economic Affairs stated in a document, adding that officials are consulting with the national energy regulator (Federal Network Agency) and other stakeholders. The ministry stated that it advocates for the establishment of “a modern reserve system that better meets modern needs than rigid EU-level regulations.” It added that there is currently no need for market intervention, and any changes should comply with Europe’s overall requirements.