v3.26.1
DEBT (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Debt Conversion [Line Items]    
Summary of sale of the Senior Convertible Notes and Senior Note Warrants to related parties

As of March 31, 2026 and December 31, 2025, the Company's outstanding debt consisted of the following:

 

 

March 31,
2026

 

 

December 31,
2025

 

Current portion of debt:

 

 

 

 

 

 

December 2025 YA Debenture

 

$

24,096,501

 

 

$

25,255,308

 

2026 Brick Lane H&K Investment Note

 

 

14,100,600

 

 

 

 

Lyocon Convertible Notes

 

 

1,250,000

 

 

 

 

2025 Brick Lane Convertible Notes

 

 

198,300

 

 

 

191,179

 

2025 Indigo Capital Convertible Notes

 

 

17,400

 

 

 

51,059

 

2025 Diagonal Convertible Notes

 

 

 

 

 

285,662

 

Agile Note

 

 

 

 

 

8,140

 

2025 Bomore Convertible Notes

 

 

 

 

 

48,169

 

2025 Torcross Convertible Note

 

 

 

 

 

24,084

 

Liqueous Obligation

 

 

10,545

 

 

 

10,545

 

Current portion of debt

 

$

39,673,346

 

 

$

25,874,146

 

As of December 31, 2025 and 2024, the Company's outstanding debt consisted of the following:

 

 

As of December 31,

 

 

 

2025

 

 

2024

 

Current portion of notes payable:

 

 

 

 

 

 

December 2025 YA Debenture

 

$

25,255,308

 

 

$

 

Indigo Capital Convertible Notes

 

 

51,059

 

 

 

 

AZ Promissory Note (related party)

 

 

 

 

 

 

TAG Promissory Note (related party)

 

 

 

 

 

 

Diagonal Convertible Notes

 

 

285,662

 

 

 

 

Agile Note

 

 

8,140

 

 

 

 

Brick Lane Convertible Notes

 

 

191,179

 

 

 

 

Bomore Convertible Notes

 

 

48,169

 

 

 

 

Boot Convertible Note

 

 

 

 

 

 

Torcross Convertible Note

 

 

24,084

 

 

 

 

Liqueous Obligation

 

 

10,545

 

 

 

1,053,824

 

Senior Convertible Notes Issued June 2023

 

 

 

 

 

4,683,069

 

Junior Notes Issued November 2023

 

 

 

 

 

2,369,122

 

August 2024 Convertible Notes

 

 

 

 

 

537,375

 

Additional August 2024 Convertible Notes

 

 

 

 

 

687,315

 

Unamortized debt discount and deferred financing costs

 

 

 

 

 

(88,522

)

Current portion of notes payable

 

$

25,874,146

 

 

$

9,242,183

 

Summary of Maturities of Debt

Maturities of our debt principal as of March 31, 2026 are presented below:

 

 

March 31,
2026

 

Year ended December 31:

 

 

 

2026

 

$

23,526,989

 

2027

 

 

16,249,998

 

Total debt maturities

 

$

39,776,987

 

Maturities of our debt as of December 31, 2025 are presented below:

 

 

 

December 31,
2025

 

Year ended December 31:

 

 

 

2026

 

$

25,458,016

 

2027

 

 

-

 

2028

 

 

-

 

2029

 

 

-

 

2030

 

 

-

 

Thereafter

 

 

-

 

Total debt maturities

 

$

25,458,016

 

Junior Notes and Junior Note Warrants    
Debt Conversion [Line Items]    
Summary of Convertible Notes and Note Warrants Sold to Related Parties  

The table below summarizes the outstanding principal amount of the Junior Notes to related parties:

 

As of December 31,

 

Noteholder

2025

 

 

2024

 

David Seldin(1)

$

 

 

$

762,211

 

Eunomia, LP(2)

 

 

 

 

1,100,000

 

Total Junior Notes - related parties

$

 

 

$

1,862,211

 

(1)
David Seldin was a member of the Legacy Nuburu board of directors and at the time of the issuance was the sole manager of Anzu Nuburu LLC, Anzu Nuburu II LLC, Anzu Nuburu III LLC and Anzu Nuburu V LLC (the "Anzu SPVs"), which at that time owned more than 5% of Legacy Nuburu’s capital stock.
(2)
Ron Nicol, manager of Eunomia, LP, was the Executive Chairman of the Company’s board of directors through January 2025.
Senior Convertible Notes and Senior Note Warrants [Member]    
Debt Conversion [Line Items]    
Summary of Convertible Notes and Note Warrants Sold to Related Parties  

The table below summarizes the outstanding principal amount of the Senior Convertible Notes to related parties:

 

As of December 31,

 

Investor

2025

 

 

2024

 

Wilson-Garling 2023 Family Trust(1)

$

 

 

$

5,138,055

 

Eunomia, LP(2)

 

 

 

 

1,027,611

 

Curtis N Maas Revocable Trust(3)

 

 

 

 

102,761

 

Total Senior Convertible Notes - related parties

$

 

 

$

6,268,427

 

(1)
Thomas J. Wilson, an affiliate of Wilson-Garling 2023 Family Trust, was a member of the Legacy Nuburu board of directors.
(2)
Ron Nicol, manager of Eunomia, LP, was the Executive Chairman of the Company’s board of directors through January 2025.
(3)
Curtis Maas, an affiliate of the Curtis N Maas Revocable Trust, was a member of the Legacy Nuburu board of directors.