Financing ·
Nuburu returns Heckler & Koch shares to Brick Lane in exchange for cancelling $15M convertible note
BURUNuburu, Inc.
Nuburu, Inc. entered into a Stock Purchase and Note Cancellation Agreement with Brick Lane Capital Management Limited effective September 30, 2026. Under the agreement, Nuburu returned 295,000 ordinary shares of Heckler & Koch AG to Brick Lane in exchange for the cancellation of a $15,000,000 Subordinated Convertible Note issued on February 6, 2026. The company also entered into a Side Letter Agreement with Esousa Group Holdings, LLC and other purchasers related to the July 2026 Securities Purchase Agreement. This side letter revises the definition of Black Scholes Value in warrants issued to Esousa and requires certain Series B preferred stock holders to forfeit conversion rights if the price falls below $0.10 per share. Additionally, the side letter establishes monthly penalty payments for Nuburu if it fails to register shares issuable upon conversion by specified dates. Nuburu operates in the advanced manufacturing sector, providing laser-based solutions for materials processing.