Nuburu (BURU) Stock: Drops as Tekne Deal Advances After Italian Approval

TLDR

• Nuburu shares drop 3.48% despite Italy clearing the Tekne acquisition deal.
• Italy approves Nuburu Defense’s planned 70% controlling interest in Tekne deal.
• The deal now advances toward funding, governance, and final closing steps next.
• Tekne adds defense manufacturing, electronic warfare, and military mobility.
• Nuburu’s $38 million offering supports the acquisition and integration work.

Nuburu (BURU) shares fell 3.48% to $0.0600 after retreating from intraday highs near $0.068. Italy approved Nuburu Defense’s proposed purchase of a 70% controlling stake in Tekne. The decision removes the transaction’s main government hurdle and shifts attention toward funding, governance, and final closing steps.

Nuburu, Inc., BURU

Italian Approval Clears Major Deal Hurdle

The Italian Government granted approval under its Golden Power framework for businesses serving strategic national sectors. The review covered defense, security, ownership controls, sensitive technologies, and the proposed transfer of majority control. Nuburu submitted the formal notification on June 5 after signing the investment agreement on May 26.

The agreement gives the parties 30 calendar days to complete closing actions after confirming the approval condition. Nuburu must still complete corporate resolutions, capital steps, share transfers, governance appointments, and required documentation. The company must also follow every commitment and condition included within the Italian authorization.

After closing, Nuburu expects to control Tekne and consolidate its results under United States accounting rules. The company would also record the remaining 30% stake as a non-controlling interest. However, final accounting treatment will depend on a completed acquisition assessment.

Tekne Adds Defense Scale and Existing Operations

Tekne operates established engineering and manufacturing sites in Ortona, Poggiofiorito, and Guastalla. The company employs about 180 people and develops military vehicles, electronic warfare systems, communications, and security platforms. Its capabilities also cover counter-drone applications, tactical systems, defense mobility, and civil emergency solutions.

Tekne holds a signed order portfolio with about $108.7 million in normalized residual value. Management materials support that figure, although delivery changes, validation, and possible cancellations could affect the final amount. Nuburu also cited a five-year production plan valued near $648 million through 2030.

The plan aims to preserve Italian production, strategic knowledge, jobs, technology controls, and defense-related intellectual property. Nuburu plans to combine Tekne’s manufacturing base with photonics, software, and deployable production capabilities. The combined platform would target defense and security programs across Italy, Europe, and NATO markets.

Funding Supports Closing and Integration Work

Nuburu has already provided Tekne with about $23.7 million through shareholder loans. The agreement allows part of that financing to convert during the planned capital increase. Final amounts will depend on closing calculations, reconciliation, and the transaction’s euro-denominated terms.

The broader transaction uses a pre-money valuation equal to about $59.7 million at the stated exchange rate. Nuburu plans a capital increase worth about $34.1 million and a separate $6 million share purchase. Those steps would raise its ownership from an existing 2.9% stake to 70%.

Nuburu also completed a $38 million public offering during July to support its defense expansion. It then repaid about $16.75 million in principal obligations tied to earlier financing and acquisition notes. The remaining proceeds will support Tekne, working capital, transaction costs, and near-term integration requirements.

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