Nuburu, Inc. announced two material agreements effective September 30, 2026. The company entered into an agreement with Brick Lane Capital Management to cancel a $15 million convertible note by returning previously acquired shares. Separately, Nuburu executed a side letter with Esousa Group Holdings to amend terms related to an existing warrant and its Series B preferred stock.
Key Details
- Note Cancellation: Nuburu will return 295,000 shares of Heckler & Koch AG to Brick Lane Capital Management in exchange for the full cancellation of a $15,000,000 Subordinated Convertible Note originally issued on February 6, 2026.
- Side Letter Agreement: The company amended terms with Esousa Group Holdings and other investors, revising the "Black Scholes Value" definition in a warrant and establishing a $0.10 per share conversion price floor for certain Series B Preferred Stock holders.
- New Penalty Clause: The side letter introduces a monthly penalty payable by Nuburu if it fails to meet specific deadlines for registering common stock issuable upon conversion of the Series B Preferred Stock.