Laser maker Nuburu to merge with SPAC Tailwind; deals values combined company at $350M

Aug. 08, 2022 5:48 PM ETTailwind Acquisition Corp. (TWND)By: Val Kennedy, SA News Editor

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Industrial laser developer Nuburu plans to go public through a merger with SPAC Tailwind Acquisition Corp. (NYSE:TWND) that pegs the pre-money enterprise value of the combined company at around $350M.

The deal would generate gross proceeds of approximately $334M for the combined company, assuming no redemptions. Nuburu also expects to gain access to another $100M in financing through an agreement with Lincoln Park Capital.

After the closing, Nuburu shares are expected to trade under the symbol BURU. The deal is expected to close in early 2023.

Base in Colorado, Nuburu has developed a blue laser technology that can increase productivity for welding and the 3D printing of reflective metals.

The deal ends months of speculation about Tailwind's M&A plans in the wake of its failed merger with risk analytics firm Qomplx last August, which was mutually terminated over market conditions.

In April, Tailwind was reported to be interested in acquiring Bed, Bath & Beyond’s buybuy BABY unit. The month prior, it was said to be in talks with Games Global over a deal that would’ve valued the combined company at around $3B.

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