Mergers & Acquisitions ·
Nuburu completes acquisition of additional 67.1% stake in Tekne for €5.2M plus up to €20M earn-out
BURUNuburu, Inc.
Nuburu Defense completed the acquisition of an additional approximately 67.1% interest in Italian defense firm Tekne S.p.A., bringing its total ownership to 70%. The fixed purchase price is €5,200,000, consisting of a €1,200,000 initial payment and €4,000,000 payable in installments through March 2027. Additionally, Nuburu agreed to pay up to €20,000,000 in earn-out payments based on Tekne's annual revenues from fiscal years 2027 through 2036, subject to a guaranteed minimum of €2,000,000 annually. The transaction includes the waiver of approximately €29.7 million owed by Tekne as a capital contribution and establishes a new three-member board. Nuburu also received a public warning letter from NYSE American for late disclosure of material information regarding prior transactions.