Nuburu plans up to USD 38 million premium-priced offering to fund controlling stake in Tekne
BURU•Offering to fund Tekne acquisition and balance sheet needs
Nuburu plans a proposed best-efforts public offering of up to USD 38 million, targeting a price of USD 0.16 per share, a 5% premium.
Proceeds are planned to support a shift toward a Defense and Security platform, anchored by a proposed 70% acquisition of Tekne.
Funding is expected to meet Italy’s Golden Power financial assurances tied to the Tekne transaction.
Capital allocation includes retiring about USD 16.75 million of debt, aiming to end recurring equity-line share issuances and pause equity-line use for 90 days.
Additional proceeds are earmarked to bolster stockholders’ equity for NYSE American listing compliance, funding near-term execution and working capital.
