Nuburu Inc. (NYSE:BURU) saw its shares rise by 55.61% during pre-market trading on Friday, reaching $0.34, following the company’s completion of a $12 million capital raise and announcement of strategic acquisitions targeting the electronic warfare and operational resilience sectors.
Check out the current price of BURU stock here.
Strategic Capital Infusion Bolsters Balance Sheet
The blue laser technology company recently completed a $12 million public offering, boosting its balance sheet and raising its cash position to around $6 million.
The capital raise supports the NYSE-approved recapitalization plan and will help fund its acquisition program focused on defense technology, security, and blue-laser technology fields.
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Defense Subsidiary Targets $20B Market Opportunity
Nuburu established Nuburu Defense LLC to serve as the company’s defense and security hub.
The electronic warfare sector is expected to reach $19.4 billion by 2028. Nuburu Defense LLC is also targeting a controlling stake in Orbit S.r.l., a software as a service (SaaS) startup focused on operational resilience, aiming at the $1.1 billion market.
Binding agreements for this acquisition are expected by Oct. 31.
Partnership Delivers Immediate Revenue Impact
BURU’s partnership with Tekne S.p.A., a manufacturer of special vehicles, electronics, and defense systems, resulted in a $6.6 million international government contract with Bangladesh.
Nuburu Defense anticipates starting its revenue growth trajectory in the fourth quarter, with initial billings projected at around $500,000.
Blue Laser Acquisition Strategy Advances
“Nuburu is making significant strides in our strategic transformation, particularly with the establishment of Nuburu Defense and our pursuit of synergistic acquisitions,” said Alessandro Zamboni, Executive Chairman of Nuburu.
To strengthen its operations, the company also brought on a financial controller and a revenue office specialist, both starting on October 1.
Stock Performance
The Colorado-based company has ranged between $0.12 and $1.60 over the past year. It has a market capitalization of $29.72 million and an average trading volume of 46.89 million shares.
Price Action: According to Benzinga Pro data, on Thursday, Nuburu Inc. closed at $0.22, marking a 36.04% increase for the day.
Benzinga’s Edge Stock Rankings indicate that BURU is experiencing long-term consolidation along with medium and short-term upward movement. Know how its momentum lines up with other well-known names.
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