NUBURU Confirms Closing Funds in Place for Tekne Acquisition and Approximately $135.4 Million in Net Remaining Order Value

NUBURU says it can close the Tekne deal without new capital while inheriting about $135 million in net remaining order value.

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Golden Power authorization secured; completion targeted for the first week of October as NUBURU prepares expansion across U.S., NATO and allied markets

DENVER--(BUSINESS WIRE)-- NUBURU, Inc. (NYSE American: BURU), a next-generation dual-use Defense & Security integrated platform company, today confirmed that it holds the funds required to complete its acquisition of a 70% controlling interest in Tekne S.p.A. (“Tekne”) and requires no additional capital raise to close. Following the Italian Government’s Golden Power authorization on August 5, 2026, the parties are working toward completion in the first week of October 2026, subject to the remaining corporate approvals and closing formalities. Tekne management has reported approximately $135.4 million in net remaining order value. NUBURU and Tekne are also preparing their U.S. and broader NATO and allied-market expansion, building on Tekne’s existing commercial pipeline and global partner network.

“Tekne brings an operational track record: Graelion vehicles are operating in Italy, serving fire brigades in Germany and supporting Ukraine’s State Emergency Service in demining operations, while its Tactical Bubble electronic-warfare systems have been adopted by Italian military forces and attracted interest from NATO countries and international defense-technology partners,” said Alessandro Zamboni, Executive Chairman and Co-Chief Executive Officer of NUBURU. “With the capital required to close in place, we are targeting the first week of October. Our focus is to convert Tekne’s orders into deliveries and cash, integrate its technologies with our laser and software capabilities, and work with local partners to bring NUBURU’s Defense & Security platform to customers internationally.”

Closing Preparations Following Golden Power Authorization

The Italian Government granted Golden Power authorization for the transaction on August 5, 2026. The remaining steps include the incorporation of Nuburu Defense Italy S.r.l. (“NDI”), which will initially serve as the operating holding company under NUBURU Defense LLC; the Tekne shareholders’ meeting to approve the capital increase; and completion of the notarial formalities to give effect to the resulting shareholdings, together with the associated governance appointments and final documentation. The parties are working toward completion in the first week of October 2026. That timing remains subject to agreement among the parties and completion of these steps, and NUBURU will announce the closing separately.

Proceeds from NUBURU’s completed public offering have been applied to the Tekne acquisition. NUBURU has provided an additional EUR 7 million to Tekne toward the EUR 9 million funding requirement for closing. NUBURU has the capital required to satisfy its remaining obligations at acquisition closing, and no additional capital raise is required to close. NUBURU continues to provide support to Tekne for ongoing operations and its production ramp-up, prioritizing essential suppliers, manufacturing and customer acceptance, and alignment of production expenditures with expected customer receipts. Subsequent production, working-capital and expansion requirements will be addressed through Tekne’s industrial plan and the NUBURU group’s financing plans, including planned partnerships with local banks aimed at optimizing the cost of capital and pursuing non-dilutive funding solutions.

Approximately $135.4 Million in Net Remaining Order Value

As previously reported, Tekne management identified approximately $148.0 million (EUR 129.0 million) in active remaining order value. After excluding approximately $12.6 million (EUR 11.0 million) identified as presenting elevated cancellation risk, net remaining order value was approximately $135.4 million (EUR 118.0 million). These preliminary, unaudited figures cover 100% of Tekne, and NUBURU would begin consolidating Tekne only after completion of the acquisition of its 70% controlling interest. The prospective military Graelion opportunities in Ukraine previously disclosed to the market by the Company are additional to, and are not included in, that figure.

The order-value measure is not U.S. GAAP revenue, a measure of funded backlog or financial guidance. Realization depends on production, delivery, customer acceptance and collection, and orders may be modified, delayed or cancelled.

General Pietro Serino to Become Tekne Chairman Following Closing

General Pietro Serino, former Chief of Staff of the Italian Army and a strategic adviser to NUBURU Defense, has signed a commitment letter to serve as Chairman of Tekne upon closing. That commitment formed part of the Golden Power notification submitted to the Italian Government, and his appointment remains subject to the required corporate resolutions at closing. Working with Tekne management and NUBURU, General Serino is expected to support Tekne’s expansion across NATO and partner markets and the integration of Tekne’s electronic-warfare and special-vehicle capabilities with Lyocon’s laser and photonics technologies and Orbit’s software. Orbit’s defense deconfliction module remains under development, and integrated offerings remain subject to technical validation and customer requirements.

Tekne’s International Footprint and U.S. Expansion

Graelion already has an international operational footprint beyond Italy. In Germany, Graelion vehicles serve fire brigades in Heidelberg and Lorsbach, supporting firefighting and rescue operations in challenging terrain. In Ukraine, Graelion-based PM-L vehicles built by Pozhmashina support the State Emergency Service’s bomb-disposal and demining teams. These deployments demonstrate the platform’s use across civil-protection and emergency-response missions and provide operational references for NUBURU’s planned expansion into U.S. and other international markets.

NUBURU is evaluating several sites for a commercial office and demonstration facility in the Washington defense corridor, with an opening targeted for the first quarter of 2027. The facility is intended to house and maintain demonstration equipment, including the Graelion tactical vehicle and the Tactical Bubble mission-integration system, supported by Tekne’s engineering and technical personnel in Italy. Relocation of demonstration equipment to the United States remains subject to applicable export, import and licensing authorizations.

NUBURU intends to build a U.S. task force alongside local partners, building on its existing contractual joint venture with Maddox Defense Incorporated. Initial product priorities include J4 electronic-warfare and counter-unmanned aircraft systems (counter-UAS), the Tactical Bubble mission-integration platform, and tactical and special vehicles such as Graelion. Planned activities include engagement with military end users, federal agencies and prime contractors; product demonstrations and operator training; and responses to requests for information, requests for proposals and eligible tenders. Implementation remains subject to applicable import, export, security and procurement requirements, customer participation and the resources allocated to each phase.

About NUBURU, Inc.

NUBURU, Inc. (NYSE American: BURU) is a next-generation dual-use Defense & Security integrated platform company developing software-orchestrated, hardware-enabled capabilities for defense and security, critical infrastructure and digital-resilience markets. Its strategy combines modular capabilities across four areas:

• Directed-energy and non-kinetic effects, including laser technologies and counter-drone applications;
• Electronic warfare, cyber and electromagnetic activities (CEMA), and defense mobility;
• Operational-resilience software, AI-assisted orchestration, analytics and decision support; and
• Advanced manufacturing and deployable in-field production and support.

For more information, visit www.nuburu.net and https://ir.nuburu.net/corporate-profile/default.aspx, and follow NUBURU on X at https://x.com/nuburulasers.

About NUBURU Defense LLC

A subsidiary of NUBURU, NUBURU Defense develops advanced deployable solutions, systems and products for defense and security, critical infrastructure and digital-resilience markets, supporting NUBURU’s Defense & Security platform strategy. Its platform initiatives include Orbit’s operational-resilience software, the proposed acquisition of Tekne, and collaboration with Maddox Defense Incorporated. The Tekne acquisition remains subject to completion of the closing steps described above.

About NUBURU Subsidiary, Inc.

A subsidiary of NUBURU, NUBURU Subsidiary, Inc. fully owns Lyocon S.r.l., an Italian laser-technology company specializing in the design, manufacturing and integration of laser systems. Lyocon supports NUBURU’s blue-laser business and the development of dual-use industrial and defense applications.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements other than statements of historical fact may be forward-looking statements, identified by words such as “may,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “plan,” “target,” “could,” “would,” or their negatives or variations.

Forward-looking statements include, without limitation, statements regarding the timing and completion of the Tekne acquisition; sufficiency and use of closing funds and the absence of any further capital raise required for closing; NDI’s incorporation and role; the remaining closing steps and their completion; ongoing financial support, future financing requirements and planned banking partnerships; continued deployment and performance of Graelion vehicles in Ukraine; prospective military Graelion business in Ukraine and its exclusion from reported order values; production, deliveries, order conversion and cash collection; realization of reported order values; international expansion and pipeline development; the planned U.S. office, demonstration facility, task force, demonstrations, training and procurement activities; the relocation of demonstration equipment to the United States and the authorizations required for it; General Serino’s anticipated appointment and role; platform integration; and product development.

Actual results may differ materially due to risks and uncertainties, including closing delays or failure; changes in closing requirements; failure to complete NDI’s incorporation, obtain shareholder approval of the Tekne capital increase or complete notarial formalities; compliance with Golden Power prescriptions; operating losses, negative cash flow, liquidity constraints, future financing needs and dilution; supplier and production constraints; order modification, delay or cancellation; customer funding, acceptance and payment delays; government procurement and qualification requirements; failure to obtain required appointments, agreements or approvals; recruitment, market-entry and integration risks; technical-validation risks; export controls, sanctions, import, licensing, security and other regulatory requirements; geopolitical risks, including the conflict in Ukraine; competition; market volatility and continued-listing risks; and other factors described in NUBURU’s filings with the U.S. Securities and Exchange Commission. Market-entry plans and prospective opportunities do not constitute contract awards or financial guidance. Order values are not U.S. GAAP revenue or a measure of funded backlog. Statements speak only as of their date. NUBURU undertakes no obligation to update them except as required by law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260922085438/en/

NUBURU Investor Relations: ir@nuburu.net
Media Contact: press@nuburu.net
Website: www.nuburu.net

Strategic Communications & Partnerships: Phoenix MGMT & Consulting
PR@PhoenixMGMTConsulting.com | 888-228-0122

Source: NUBURU, Inc.

Key Terms

golden power regulatory

A government’s special authority to review, approve, or block investments and takeovers of businesses that touch critical infrastructure, sensitive technology, or national security services. Think of it like a safety switch or referee that can stop or change a deal to protect public interests; for investors it means some transactions may be delayed, modified, or prevented, creating regulatory risk that can affect deal outcomes, valuations, and share prices.

u.s. gaap technical

U.S. GAAP is a set of rules and standards that companies in the United States follow to prepare their financial reports. It helps ensure that financial information is consistent and clear, so investors and others can compare and understand a company's financial health easily.

counter-uas technical

Counter-UAS (counter-unmanned aircraft systems) are tools and tactics used to detect, track, and disable or divert drones that pose a threat to people, property, or operations. Think of them as a combination of a security camera, alarm system, and net that can find an unwanted flying device and stop it before it causes harm. Investors care because demand, regulation, and deployment of these systems affect revenue, contract opportunities, legal risk, and the valuation of companies that build or use them.

electronic-warfare technical

Electronic warfare is the use of radio waves, radar signals and other parts of the electromagnetic field to disrupt or protect communications, sensors and guidance systems — think of jamming a radio or blinding a camera from a distance. For investors, it matters because demand for electronic-warfare equipment and software drives defense sales, shapes procurement cycles, and creates technological and regulatory risks that can affect a supplier’s revenue and stock outlook.