Recent Updates — BURU
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.
Nuburu, Inc. entered into a Stock Purchase and Note Cancellation Agreement with Brick Lane Capital Management Limited effective September 30, 2026. Under the agreement, Nuburu returned 295,000 ordinary shares of Heckler & Koch AG to Brick Lane in exchange for the cancellation of a $15,000,000 Subordinated Convertible Note issued on February 6, 2026. The company also entered into a Side Letter Agreement with Esousa Group Holdings, LLC and other purchasers related to the July 2026 Securities Purchase Agreement. This side letter revises the definition of Black Scholes Value in warrants issued to Esousa and requires certain Series B preferred stock holders to forfeit conversion rights if the price falls below $0.10 per share. Additionally, the side letter establishes monthly penalty payments for Nuburu if it fails to register shares issuable upon conversion by specified dates. Nuburu operates in the advanced manufacturing sector, providing laser-based solutions for materials processing.
Nuburu, Inc. announced on September 16, 2026, that its Board and management concluded previously issued unaudited financial statements for the three and six months ended June 30, 2026, should no longer be relied upon due to material misstatements. The error involved using an incorrect equity value of €15.2 million instead of €25.4 million to fair-value a convertible note receivable from Tekne S.p.A. Correcting this input increased the asset's fair value by $761,001, raising total assets by that amount. The company will restate these financials in an amendment to its Q2 2026 Form 10-Q. Nuburu, Inc. operates in the semiconductor and advanced manufacturing equipment industry.
Nuburu, Inc. closed a public offering on July 17, 2026, raising approximately $38.0 million in gross proceeds, with net proceeds of approximately $35.6 million. The offering included common stock, pre-funded warrants, and Series B Preferred Stock sold at $0.1555 per share. The company intends to use the funds to advance the acquisition of Tekne S.p.A., redeem $15.5 million in debentures, and support its Defense & Security platform. Additionally, the company received a delisting notice from NYSE American because its stock traded below $0.10 and intends to implement a reverse stock split to regain compliance. Nuburu is a next-generation dual-use Defense & Security integrated platform company.
Nuburu, Inc. entered into a binding Head of Terms with SunCubes S.r.l. to develop a vehicle-integrated directed-energy "Laser Arm" system through an industrial, commercial, and technological cooperation framework. The company plans to contribute up to €1,000,000 to acquire a minority stake in SunCubes, with payments consisting of an initial €250,000 upon signing definitive agreements and a subsequent €750,000 upon receiving necessary Italian government and export-control clearances. Nuburu, Inc. operates in the high-power laser technology industry.