Nuburu, Inc. has entered into a definitive investment agreement to acquire a 70% equity interest in the Italian company Tekne S.p.A. The transaction involves converting previous financial support into equity, purchasing shares from existing shareholders, and providing additional funding, subject to regulatory approval in Italy.
Key Details
- Transaction Structure: The acquisition will be completed in two main steps: first, securing a 57.1% interest by converting prior loans and providing new funding, and second, purchasing an additional 10% from Tekne's shareholders.
- Financial Terms: Total consideration includes a subscription price of €29.7 million, a cash payment of €5.2 million, and a potential earn-out of up to €29.7 million based on 5% of Tekne's annual revenues from 2027 to 2036.
- Contingency & Timeline: The deal is contingent upon receiving "Golden Power" regulatory approval from the Italian government by a deadline of September 30, 2026. The closing is expected to occur within 30 days of receiving this approval.