Willkie advised SPAC that will take industry leader in high-power and high-brightness industrial blue lasers public.
On August 8, Willkie client Tailwind Acquisition Corp., a special purpose acquisition company, announced the execution of a definitive business combination agreement with NUBURU, Inc., a leading innovator in high-power and high-brightness industrial blue laser technology.
The combined company will receive up to approximately $334 million held in Tailwind’s trust account at closing of the transaction, subject to any redemptions by existing Tailwind shareholders. Upon closing of the transaction, the company will be named NUBURU, Inc., and is expected to trade on the New York Stock Exchange under the ticker symbol “BURU.” The transaction values the combined company at a pro forma enterprise value of approximately $350 million.
Founded in 2015, NUBURU is leading the transformation to a world of high-speed, high-quality metal machining and processing. In 2017, NUBURU changed the laser materials processing field with the introduction of the first industrial blue laser. Now at the forefront of this growth market, NUBURU’s groundbreaking technology has defined a new class of high-power, high-brightness blue lasers.
Tailwind is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
The Willkie team was led by partners Adam Turteltaub and Danielle Scalzo and included associate Andrew Marmer.