Nuburu provides update on planned acquisition of Tekne

Nuburu (BURU) announced a pivotal update on its planned acquisition of Tekne, following formal notice received from the Italian government under the “Golden Power” framework. The company will work with Tekne on a phased acquisition plan in compliance with the guidance of the Italian government which, rather than issuing a full clearance or a definitive irrevocable rejection, indicated key areas to consider, taking in account the Italy’s national security goals. This is demonstrated by approx. Euro 67,4M of orders already committed by the Minister of Defense to Tekne. “We are deeply concerned by the reckless and negative reporting that appeared in the Italian press today, underpinned by a clear intention to safeguard the current workforce of TEKNE, which we respect, being also our priority” said Alessandro Zamboni, Executive Chairman of NUBURU. “These reports caused unnecessary panic among investors and misrepresented our ongoing and productive collaboration with Italian authorities. Let me be clear: the acquisition will move forward – in full compliance with Golden Power guidance – and we remain committed to the transparency and integrity our shareholders deserve.”