Nuburu Inc (AMEX:BURU) stock jumped 31% in premarket trading Wednesday after the company disclosed modified terms for its planned acquisition of Italian laser manufacturer Tekne S.p.A.
According to a regulatory filing, Nuburu has executed a binding commitment letter to restructure its previously announced acquisition of a 70% stake in Tekne, following feedback from the Italian government’s “Golden Power” review of the transaction.
Under the revised plan, Nuburu will complete the acquisition in two stages through its new subsidiary, Nuburu Defense, LLC. The company will initially acquire 3% of Tekne in September 2025, followed by the remaining 67% by the end of the year. A third-party valuation establishes Tekne’s enterprise value at $60 million, with Nuburu’s 70% stake valued around $42 million.
To address regulatory concerns, Nuburu has agreed to support Tekne with up to €40 million for working capital needs over the next 12 months, including €10.5 million in cash financing and a €30 million inventory monetization program.
Additionally, the two companies plan to form a U.S.-based joint venture, owned 80% by Nuburu and 20% by Tekne, aimed at developing new defense products for the Americas market and potentially generating up to $7.5 million in revenue during the ongoing regulatory review.
The transaction remains subject to final agreements and regulatory approvals, with the second-stage acquisition requiring Nuburu shareholder approval.
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