NUBURU hits first milestone in Tekne acquisition with initial stake and launch of US JV

▤ Summary

NUBURU completed its first milestone in the phased acquisition of Tekne by taking an initial minority stake and setting up a US defense joint venture. The new structure will let the companies execute a US$7.5 million backlog, market Tekne products in the Americas, and develop new defense technologies. NUBURU also committed to financing Tekne’s working capital needs over the next 12 months and plans to seek approval for a later move to majority ownership. The company additionally brought in a strategic consultant to support execution of its defense and security hub strategy.

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