Business
NUBURU Files Golden Power Notification for Majority Acquisition of Tekne, Launching Formal Review by the Italian Government
NUBURU Files Golden Power Notification for Majority Acquisition of Tekne, Launching Formal Review by the Italian
About this update from Nuburu, Inc.
NUBURU, Inc. (NYSE American: BURU), the next-generation dual-use Defense & Security integrated platform company focused on non-kinetic effects and directed-energy technologies, electronic warfare and defense mobility programs, software-orchestrated defense systems, and advanced manufacturing, today announced that NUBURU and NUBURU Defense LLC have submitted the Golden Power notification to the Italian Government in connection with NUBURU's planned acquisition of a controlling 70% ownership stake in Tekne S.p.A. ("Tekne"). The filing represents a major execution milestone for NUBURU’s transformation into a next-generation Defense & Security platform company, formally advancing the proposed majority acquisition of Tekne and initiating the Italian Government review process required to complete one of the Company’s most significant strategic transactions to date. Under the ordinary Golden Power review timetable, the Italian Government generally has a 45-day review period from receipt of a completed notification. The review period and outcome remain subject to the applicable statutory process, including potential information requests, requests for clarifications, suspensions, prescriptions, conditions, commitments or other actions by the competent authorities. Completion of the Tekne transaction remains subject to Golden Power authorization and the other closing steps contemplated by the SPA. The Golden Power notification filing package includes the definitive SPA, supporting transaction materials and Tekne's 2026-2030 industrial and business plan. NUBURU believes the filing package demonstrates the strategic importance of the transaction for Italian industrial continuity, defense readiness, employment growth, technological development and NATO-aligned security capabilities. Golden Power Filing Formally Launches Review by the Italian Government of the Planned Acquisition by NUBURU of a Controlling 70% Ownership Stake in Tekne The notification covers the proposed acquisition by NUBURU Defense LLC, potentially through a newly incorporated Italian acquisition vehicle controlled directly or indirectly by NUBURU, of a 70% ownership stake in Tekne. As previously announced, the SPA establishes a structured path for NUBURU to acquire majority ownership and control of Tekne through a capital increase, conversion of existing shareholder financing and the purchas...