Edges Higher as Tekne acquisition Enters Italian Review

TLDR

• BURU gains as NUBURU advances Tekne deal into Italian review
• NUBURU’s Tekne acquisition moves into key Golden Power review
• BURU rises 1.31% as Tekne deal reaches Italy’s review stage
• NUBURU pushes defense platform plan forward with Tekne filing
• Tekne deal review begins as NUBURU targets defense expansion

NUBURU (BURU) stock moved slightly higher after the company advanced its planned Tekne acquisition into Italy’s Golden Power review. BURU traded at $0.1621, up 1.31%, after an early spike lost strength near mid-morning. The filing marks a key step in NUBURU’s plan to build a broader defense and security platform.

Nuburu, Inc., BURU

Golden Power Filing Starts Key Review

NUBURU and NUBURU Defense LLC submitted the Golden Power notification to the Italian Government for the Tekne transaction. The filing covers NUBURU’s planned acquisition of a controlling 70% stake in Tekne S.p.A. The deal now enters the formal national-interest review process required under Italian rules.

The ordinary review period generally runs for 45 days after officials receive a completed notification. Authorities can request more information, clarifications, conditions, commitments, or other steps during the process. The transaction still needs Golden Power clearance and other closing actions under the signed SPA.

NUBURU filed the definitive SPA, supporting transaction documents, and Tekne’s 2026 to 2030 business plan. The company said the package supports Italian industrial continuity, defense readiness, employment growth, and NATO-aligned security needs. Besides, the filing follows pre-filing talks with Italian Government representatives to address national-interest issues.

Tekne Plan Supports NUBURU Defense Shift

Tekne’s deposited business plan projects about EUR564.7 million in cumulative revenue and production value from 2026 to 2030. At an indicative EUR/USD rate of 1.16, that equals about $655 million. NUBURU’s expected 70% stake would represent about $459 million on a pro rata basis.

The plan projects Tekne revenue and production value rising from EUR49.6 million in 2026 to EUR198.8 million in 2030. Growth would come from backlog, new orders, defense electronics, international defense work, and NUBURU platform support. Tekne expects workforce expansion to about 536 full-time employees by 2030.

NUBURU wants Tekne to become a cornerstone asset within its defense and security platform. The combined business would target electronic warfare, counter-drone systems, tactical mobility, directed energy, and software-led defense systems. The deal supports NUBURU’s move beyond legacy manufacturing into integrated defense technologies.

Transaction Structure Sets Majority Control Path

The SPA values Tekne at a fixed EUR52 million pre-money valuation. NUBURU plans to gain control through shareholder financing conversion, a capital increase, and share purchases. The structure also includes a revenue-based earn-out tied to Tekne annual revenue from 2027 through 2036.

The transaction includes conversion of about EUR17.692 million of shareholder financing into equity. It also includes up to EUR12 million in cash as part of a EUR29.692 million capital increase. NUBURU plans a EUR5.2 million purchase of shares from Tekne’s historical shareholders.

Aggregate potential consideration and investment commitments could reach about EUR64.6 million under the SPA. After completion, NUBURU expects to hold 70% of Tekne and may consolidate the company. Meanwhile, BURU’s modest stock gain shows the filing gave the market a clear execution update.