Nuburu, Inc. (BURU) had a rough Friday as shares plunged following the company's announcement of a $12 million public offering. Investors weren't thrilled about the potential dilution, and the stock price reflected that sentiment immediately.
The company priced the offering on Thursday at $0.11 per share, with the proceeds earmarked to accelerate its Defense & Security Transformation Plan and shore up its balance sheet as it pursues an integrated platform strategy. The deal structure is pretty complex: it includes common stock and pre-funded warrants priced at $0.11 per share and $0.1099 per pre-funded warrant, covering 58,379,137 shares and 50,711,772 pre-funded warrants respectively.
But wait, there's more. The company also issued common warrants with up to 150% coverage that are exercisable immediately for as many as 85 million shares. These warrants carry an exercise price of $0.1320 for the first six months, then drop to $0.11 after that. Additional exercises beyond that would require stockholder approval, which adds another layer to watch.
Production News Offers Some Hope
In what might be a silver lining, Nuburu announced Friday that it's activating a first-quarter 2026 production ramp through its wholly owned subsidiary, Lyocon S.r.l. This is tied to a previously awarded contract worth approximately $850,000, so it's not new business exactly, but it's progress.
The order covers 40 high-power 450nm blue laser systems for Trabotyx, a Dutch agritech automation company. This marks the company's revenue reactivation under its defense transformation plan, which is a meaningful milestone even if the market isn't celebrating it today.
The Technical Picture Looks Challenging
From a technical perspective, things aren't pretty. Nuburu is currently trading 41.2% below its 20-day simple moving average and 58.3% below its 100-day SMA, which signals significant weakness in the stock's recent price action.
Over the past year, shares have fallen 59.23%, and they're sitting much closer to their 52-week lows than highs. The RSI reading of 31.65 puts the stock in neutral territory, while the MACD sitting below its signal line indicates bearish pressure. That combination suggests mixed momentum and plenty of uncertainty about where Nuburu goes from here.
Traders are watching two key levels: resistance at 20 cents and support at 10 cents.
What's Next
Investors will get another data point when the company reports earnings on April 14, 2026. Until then, the market will be digesting this offering and watching whether the production ramp translates into meaningful revenue growth.
BURU Price Action: Nuburu shares were down 20.42% at $0.10 at the time of publication on Friday.
