In the latest news, Nuburu, a well-known American developer of high-power and high-brightness industrial blue light diode lasers, announced to merge with Tailwind for SPAC listing. Upon completion of the transaction, the combined company will be named NUBURU Inc. and the expected ticker symbol is BURU. The combined company will remain based in Centennial, Colorado, and will continue to be led by its president and CEO, Mark Zediker, it is understood.

The combined NUBURU is valued at approximately $350 million with a common stock price of $10 per share. The listing transaction is expected to provide gross proceeds of approximately $334 million. The transaction enables Nuburu to continue investing in technology development and expand its market application position in electric vehicles and vehicles, energy storage, aerospace, defense, healthcare and consumer electronics.

Nuburu cooperates to develop blue laser additive manufacturing platform, which can mass produce high-quality metal parts.The Boards of Directors of Tailwind and NUBUR unanimously approved the proposed transaction, which is expected to close in early 2023. At present, the transaction still needs to be approved by the respective shareholders of the two companies and await the expiration of the transaction period. Specific due diligence deadlines.

Since the beginning of this year, Nuburu has achieved many successes, and its progress has also attracted the attention of many laser peers:

At the end of January this year, Nuburu announced the completion of a new round of financing to expand its business in target markets such as automotive, aerospace, consumer electronics and defense. This round of financing pushed its valuation to more than $350 million in one fell swoop.

At the same time, it also named two new executives: Brian Faircloth as the new chief operating officer, Andrew Dodd was promoted to vice president and executive chairman of global sales, responsible for driving the commercialization of Nuburu laser.