Nuburu modifies terms for Tekne acquisition; phased 70% stake at $42M, funding EUR 40M working capital

Nuburu, Inc.

Binding commitment letter executed Aug 27, 2025 for phased 70% stake in Tekne S.p.A. at $60M enterprise value (derived $42M for 70%).
First stage: 3% equity in Sep 2025; second stage: 67% by end of 2025 with one-year exclusivity and option.
Company to provide up to EUR 40M working capital: EUR 10.5M cash financing and EUR 30M inventory monetization via SYME.
Formation of Tekne US JV (80% Nuburu, 20% Tekne) for defense products in the Americas; expected up to $7.5M revenue during Golden Power review.
Second stage requires stockholder approval for >19.99% share issuance; definitive agreements and regulatory approvals still needed.

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