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NUBURU Offering Funds Controlling Stake in Tekne
NUBURU Inc, a dual-use defense and directed-energy technology company, has announced a proposed best-efforts public offering of up to $38m at a 5% premium to market to fund its acquisition of a 70% controlling stake in European defense manufacturer Tekne S.p.A. The offering, announced on 17 July 2026, is priced at $0.1555 per share or equivalent security, representing a premium to the 10 July closing price. If fully subscribed, NUBURU intends to use net proceeds to satisfy financial assurance requirements under the Italian Government Golden Power review, enabling completion of the Tekne acquisition. Funds will also redeem approximately $15.5m in outstanding debenture principal and $1.25m in convertible notes from the Lyocon acquisition, ending recurring stock issuances under the firm’s standby equity purchase agreement. The capital raise will strengthen stockholders’ equity and pro forma tangible book value to support NYSE American continued-listing compliance, and provide working capital to halt use of the equity line for at least 90 days. Joseph Gunnar & Co LLC is exclusive placement agent. The move aligns with NUBURU’s Defense & Security transformation plan, advancing non-kinetic effects, electronic warfare, and advanced manufacturing capabilities through the Tekne strategic alliance.