Why Nuburu Stock Shot Up 50% In After-Hours Trading

Nuburu Inc. (NYSEAMERICAN: BURU) shares jumped 50.09% to $0.24 in after-hours trading on Tuesday following a modified acquisition deal for Italian defense company Tekne S.p.A.

Check out the current price of BURU stock here.

Deal Restructured for Regulatory Approval

The laser technology company executed a binding commitment letter on August 27, restructuring its acquisition of a 70% Tekne stake. The SEC Form 8-K filing shows that the modification addresses the Italian government’s “Golden Power” regulatory review feedback.

The Colorado-based company will also acquire the controlling interest in Tekne through a newly formed subsidiary, Nuburu Defense, LLC in phases: 3% in September, remaining 67% by year-end.

$42 Million Valuation Set

A third-party valuation put Tekne's ...