Industrial blue light laser developer Nuburu adds new director

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