English

Industrial blue light laser developer Nuburu adds new director

1440
2025-01-10 14:29:21
See translation

Not long ago, Nuburu, the developer of industrial blue light lasers, encountered a personnel change controversy. The departure of two senior executives from its board of directors resulted in a shortage of board members, and the originally scheduled special meeting for financing proposals was forced to be cancelled as a result. Recently, Nuburu announced two new director appointments that will take immediate effect, expanding the board of directors from four to six members.

According to reliable data, Nuburu's stock price has surged over 40% in the past week, but its price per share remains at a low of $0.70, with a current market value of approximately $2.53 million.

Dario Barisoni, who has joined the board of directors this time, is 57 years old and has over 20 years of profound experience in related fields, especially in optoelectronics and international business. He has held senior management positions in Europe, the Middle East, and Asia, with unique insights and extensive experience in market expansion and mergers and acquisitions. Barisoni currently serves as the co-founder and Managing Director of Bionexus, as well as the Managing Partner of 2Invest. He was formerly the CEO of SIAE Microelectronics in the Middle East and Asia region, and holds a Master's degree in Advanced Business Administration and a Master's degree in Optoelectronic Engineering from the School of Management at Politecnico di Milano.

Another newly appointed director, Shawn Taylor, aged 62, has accumulated over 20 years of part-time CFO experience in SaaS technology, media, and intellectual property. He excels in driving the growth of start-up and expansion oriented enterprises, and has a profound understanding of corporate financing, IPOs, and strategic transactions. Taylor has served as the Chief Financial Officer of multiple European entities, holds a Bachelor's degree in Geography from King's College London, and is a Chartered Accountant of the Institute of Chartered Accountants in England and Wales.

Both Barisoni and Taylor will serve as members of the company's audit committee, with Barisoni also joining the nomination and corporate governance committee, while Taylor will join the compensation committee. Their term of office will continue until the annual general meeting of shareholders in 2025.

From the current situation, Nuburu's expansion of the board of directors aims to strengthen the corporate governance structure and accelerate the research and development process of laser technology. However, Nuburu also faces severe financial challenges, including negative gross profit margin and a low current ratio of 0.15.

Recently, Nuburu's shareholders' meeting has approved multiple proposals, including director elections and the issuance of common stock exceeding the 19.9% threshold. At the same time, the company also received a senior convertible bond default notice requiring it to repay approximately $6.8 million in outstanding principal. In order to facilitate smooth business processes, Nuburu has adjusted the quorum requirement for shareholder meetings. The newly added members of the board of directors will undoubtedly inject new momentum into the special meeting on financing proposals originally planned.

Source: Yangtze River Delta Laser Alliance

Related Recommendations
  • Dr. Mark Sobey, President of Coherent Lasers, has officially retired

    On September 1 local time, Coherent, an American laser system solutions provider, announced that Dr. Mark Sobey, president of its laser division, has officially retired from the company.In July 2022, II-VI and Coherent completed the merger and were reorganized into three business units: Lasers, Materials and Networking. Since this point, Dr. Sobey has served as President of Coherent's Laser divisi...

    2023-09-05
    See translation
  • Google works with magic leap on AR optics and manufacturing

    In the 2010s, Magic leap is one of the most hyped augmented reality companies, with a lot of money, including from Google. When the magic leap one headset was introduced in 2018, it was not a technological breakthrough in display technology that was once derided. Since then, Magic leap has persevered and has now signed a "multifaceted strategic technology partnership" with Google.Google announced ...

    2024-05-31
    See translation
  • Mazak will showcase high-speed fiber lasers on Tube 2024

    Yamazaki Mazak designed the FT-150 fiber laser tube processing machine for high-speed cutting of small and medium-sized diameter pipes, for use in Tube 2024. The machine tool will be controlled by a new type of pipe cutting CNC, which will be exhibited for the first time in Europe.Tube 2024 will be held from April 15th to 19th in Dusseldorf, Germany. Mazak will be exhibited at booth C17 in Hall 5....

    2024-03-16
    See translation
  • The Indian medical laser market has entered a rapid growth mode

    According to industry forecasts, the medical laser market in India, especially in the field of medical aesthetics, is expected to be worth up to 71572 million rupees in fiscal year 2023. It is expected that this number will increase to 1.8358 billion rupees by fiscal year 2031, with a compound annual growth rate of 12.49%.Alma Medical, a global innovator in the field of medical lasers in Israel, h...

    2024-07-05
    See translation
  • The efficiency of crystalline silicon solar cells has exceeded 27% for the first time, and Longi's research results have been published in Nature

    Recently, Longi Green Energy Technology Co., Ltd. (hereinafter referred to as "Longi"), as the first unit, published a research paper titled "Silicon heterojunction back contact solar cells by laser patterning" online in the journal Nature, reporting for the first time the research results of breaking through 27% of the photoelectric conversion efficiency of crystalline silicon cells through full ...

    2024-10-18
    See translation