Nuburu Inc. (NYSEAMERICAN: BURU) shares jumped 50.09% to $0.24 in after-hours trading on Tuesday following a modified acquisition deal for Italian defense company Tekne S.p.A.
Check out the current price of BURU stock here.
Deal Restructured for Regulatory Approval
The laser technology company executed a binding commitment letter on August 27, restructuring its acquisition of a 70% Tekne stake. The SEC Form 8-K filing shows that the modification addresses the Italian government’s “Golden Power” regulatory review feedback.
The Colorado-based company will also acquire the controlling interest in Tekne through a newly formed subsidiary, Nuburu Defense, LLC in phases: 3% in September, remaining 67% by year-end.
$42 Million Valuation Set
A third-party valuation put Tekne's value at $60 million, making Nuburu's 70% stake worth $42 million, with the agreement giving Nuburu one-year exclusivity and option rights.
Nuburu committed EUR 40 million in working capital financing over 12 months, starting with EUR 10.5 million in cash in September and EUR 30 million through inventory monetization.
Joint Venture Revenue Target
The companies will also create Tekne US JV, a U.S.-based joint venture that Nuburu will own 80% of, focusing on defense development for the Americas market. The venture expects to generate $7.5 million in revenue from existing orders during the regulatory review period.
Stock Performance
According to Benzinga Pro data, BURU closed at $0.16 today, with 4.9 million shares traded, compared to an average volume of 11.7 million. The stock has declined 42.18% over the past month and 80.73% over the past year.
Benzinga’s Edge Stock Rankings indicate that BURU has a negative price trend across all time frames. Know how its momentum lines up with other well-known names.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
