Latest news with #GoldenPower
Business Wire
07-08-2025
- Business
- Business Wire
NUBURU Charts Strategic Defense Trajectory Following Italian Government Guidance on TEKNE Acquisition
CENTENNIAL, Colo.--(BUSINESS WIRE)--NUBURU, Inc. (NYSE American: BURU), a global leader in high-performance blue laser technology, today announced a pivotal update on its planned acquisition of TEKNE S.p.A. ('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. This announcement marks a key milestone in NUBURU's transformation into a vertically integrated defense and security technology platform. Addressing Misinformation in the Media In light of the damaging media reports published today in certain Italian outlets, NUBURU wishes to set the record straight. Contrary to what has been reported, the acquisition of TEKNE by NUBURU is not blocked. Instead, NUBURU and TEKNE will work constructively with the Italian government to implement a phased acquisition to proceed — beginning with a minority investment and followed by a staged regulatory path toward full control, under the Golden Power procedure. '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.' The Company urges investors to rely solely on official communications from NUBURU or relevant government authorities when evaluating developments in the TEKNE acquisition and broader defense strategy. Strategic Roadmap Moving Forward Based on the Italian government's Golden Power feedback, NUBURU has agreed to the following structured acquisition and growth roadmap: - Phase 1: Minority Investment – NUBURU will immediately acquire a minority, non-controlling stake in TEKNE through a capital infusion, supporting TEKNE's working capital and near-term defense-related contracts. This action falls outside the Golden Power perimeter and demonstrates NUBURU's immediate commitment to the defense sector and financial support to TEKNE. - Phase 2: U.S.-Based Defense Joint Venture – In Q4 2025, NUBURU and TEKNE will establish a U.S.-based joint venture (80% NUBURU / 20% TEKNE) to deploy blue-laser-based defense solutions, supported by U.S. go-to-market and R&D initiatives. This program builds on months of technical planning with blue-laser subject matter experts and will further enhance the balance sheet of TEKNE. - Phase 3: Full Acquisition of TEKNE – NUBURU plans to complete the controlling acquisition of TEKNE in Q4 2025, pending further regulatory clearance by the Italian Government under the Golden Power procedure and stockholder approval. All activities will be integrated under a newly formed 'NUBURU Defense & Security Hub', a wholly owned subsidiary dedicated to national security, defense technologies, and strategic acquisitions. Additional Developments NUBURU also confirms the upcoming acquisition of an operational resilience SaaS platform, a move designed to add software capabilities to its defense offering. The acquisition is expected to close within the coming months. Further updates will be provided as key milestones in NUBURU's defense transformation are achieved. About NUBURU Founded in 2015, NUBURU, Inc. has developed and previously manufactured industrial blue laser technology. Under a renewed strategic vision led by Executive Chairman Alessandro Zamboni, the Company is expanding into complementary sectors including defense-tech, security, and critical infrastructure resilience. NUBURU is leveraging a combination of internal innovation and strategic acquisitions to build out its Defense & Security Hub, targeting long-term, sustainable growth across high-value government and enterprise markets. For more information, visit Forward-Looking Statements This press release contains certain 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release may be forward-looking statements, identified by words such as 'may,' 'should,' 'expect,' 'intend,' 'will,' 'estimate,' 'anticipate,' 'believe,' 'predict,' 'plan,' 'seek,' 'targets,' 'projects,' 'could,' 'would,' 'continue,' 'forecast,' or their negatives or variations. These statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially, including but not limited to: (1) the ability to meet security exchange listing standards; (2) the impact of the loss of the Company's patent portfolio through foreclosure; (3) failure to achieve expectations regarding business development and acquisition strategy; (4) inability to access sufficient capital; (5) inability to realize anticipated benefits of acquisitions; (6) changes in applicable laws or regulations; (7) adverse economic, business, or competitive factors; (8) financial market volatility due to geopolitical and economic factors; and (9) other risks detailed in the Company's SEC filings, including its most recent Form 10-K or Form 10-Q. These filings address additional risks that could cause actual results to differ from those in the forward-looking statements. Readers should not place undue reliance on these statements, which speak only as of the date they are made. NUBURU undertakes no obligation to update or revise these statements, except as required by law.
Yahoo
24-07-2025
- Business
- Yahoo
UniCredit Banco BPM merger battle deepens as Brussels warns Italy against unlawful interference
The European Commission has issued Italy with a warning after an investigation found the government decree over UniCredit's takeover of Banco BPM may breach EU laws. The Commission warned Italy on Monday that obligations placed on the merger 'may constitute a breach of Article 21 of the EU Merger Regulation (EMUR) and of other provisions of EU law', according to an official statement. Rome decided to use its so-called 'Golden Power' rule to set conditions for the deal, a power created to protect national security interests. It gives the government the right to block or set conditions on foreign and domestic corporate takeovers in strategic sectors. Banco BPM is Italy's third largest bank, formed in 2017 through the merger of Banco Populare and Banca Populare di Milano. UniCredit, the country's second largest bank, is currently trying to acquire it, although progress may be stalled further as the European Commission has now issued a warning to Italy over potential unlawful demands. The European Commission approved UniCredit's acquisition 'subject to conditions' on 19 June. However, earlier, the Italian Prime Minister's office issued a decree on 18 April, imposing obligations on UniCredit in the case of a successful takeover. What is the problem with the takeover? Related European markets open in the red after Trump threatens 30% EU tariff Wizz Air halts Abu Dhabi operations as instability threatens profits According to their website the European Commission defines Article 21 as: 'Member States may take appropriate measures to protect legitimate interests, provided these are compatible with general principles and other provisions of EU law, and are appropriate, proportionate and non-discriminatory. This is subject to Commission scrutiny, notably to safeguard its competence under the EUMR and avoid Single Market fragmentation.' Following the decree from the Prime Minister's office, the Commission requested more information from Italy on 26 May. Italy responded on 11 June. After analysis, the Commission found that the 'the conditions' justification currently lacks sufficient reasoning', and that the decree should have been reviewed by them before implementation by Italy. The Commission also added that, as well as Article 21, Italy's approach may breach other EU laws on the free movement of capital and on prudential oversight by the European Central Bank. An Italian court also partially annulled the decree on 12 July. The Commission is awaiting further response from Italy before deciding its next steps. The offer period of the deal to Banco BPM from UniCredit is set to expire on 23 July. UniCredit offered to buy Banco BPM for €10 billion in late November last year. In a statement, the smaller lender said the bid from UniCredit did "not reflect in any way the profitability and further potential to create value for Banco BPM shareholders", rejecting the offer. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
14-07-2025
- Business
- Yahoo
UniCredit Banco BPM merger battle deepens as Brussels warns Italy against unlawful interference
The European Commission has issued Italy with a warning after an investigation found the government decree over UniCredit's takeover of Banco BPM may breach EU laws. The Commission warned Italy on Monday that obligations placed on the merger 'may constitute a breach of Article 21 of the EU Merger Regulation (EMUR) and of other provisions of EU law', according to an official statement. Rome decided to use its so-called 'Golden Power' rule to set conditions for the deal, a power created to protect national security interests. It gives the government the right to block or set conditions on foreign and domestic corporate takeovers in strategic sectors. Banco BPM is Italy's third largest bank, formed in 2017 through the merger of Banco Populare and Banca Populare di Milano. UniCredit, the country's second largest bank, is currently trying to acquire it, although progress may be stalled further as the European Commission has now issued a warning to Italy over potential unlawful demands. The European Commission approved UniCredit's acquisition 'subject to conditions' on 19 June. However, earlier, the Italian Prime Minister's office issued a decree on 18 April, imposing obligations on UniCredit in the case of a successful takeover. Related European markets open in the red after Trump threatens 30% EU tariff Wizz Air halts Abu Dhabi operations as instability threatens profits According to their website the European Commission defines Article 21 as: 'Member States may take appropriate measures to protect legitimate interests, provided these are compatible with general principles and other provisions of EU law, and are appropriate, proportionate and non-discriminatory. This is subject to Commission scrutiny, notably to safeguard its competence under the EUMR and avoid Single Market fragmentation.' Following the decree from the Prime Minister's office, the Commission requested more information from Italy on 26 May. Italy responded on 11 June. After analysis, the Commission found that the 'the conditions' justification currently lacks sufficient reasoning', and that the decree should have been reviewed by them before implementation by Italy. The Commission also added that, as well as Article 21, Italy's approach may breach other EU laws on the free movement of capital and on prudential oversight by the European Central Bank. An Italian court also partially annulled the decree on 12 July. The Commission is awaiting further response from Italy before deciding its next steps. The offer period of the deal to Banco BPM from UniCredit is set to expire on 23 July. UniCredit offered to buy Banco BPM for €10 billion in late November last year. In a statement, the smaller lender said the bid from UniCredit did "not reflect in any way the profitability and further potential to create value for Banco BPM shareholders", rejecting the offer. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Euronews
14-07-2025
- Business
- Euronews
Banco BPM takeover battle deepens as Brussels slaps Italy with warning
The European Commission has issued Italy with a warning after an investigation found the government decree over UniCredit's takeover of Banco BPM may breach EU laws. The Commission warned Italy on Monday that obligations placed on the merger 'may constitute a breach of Article 21 of the EU Merger Regulation (EMUR) and of other provisions of EU law', according to an official statement. Rome decided to use its so-called 'Golden Power' rule to set conditions for the deal, a power created to protect national security interests. It gives the government the right to block or set conditions on foreign and domestic corporate takeovers in strategic sectors. Banco BPM is Italy's third largest bank, formed in 2017 through the merger of Banco Populare and Banca Populare di Milano. UniCredit, the country's second largest bank, is currently trying to acquire it, although progress may be stalled further as the European Commission has now issued a warning to Italy over potential unlawful demands. The European Commission approved UniCredit's acquisition 'subject to conditions' on 19 June. However, earlier, the Italian Prime Minister's office issued a decree on 18 April, imposing obligations on UniCredit in the case of a successful takeover. What is the problem with the takeover? According to their website the European Commission defines Article 21 as: 'Member States may take appropriate measures to protect legitimate interests, provided these are compatible with general principles and other provisions of EU law, and are appropriate, proportionate and non-discriminatory. This is subject to Commission scrutiny, notably to safeguard its competence under the EUMR and avoid Single Market fragmentation.' Following the decree from the Prime Minister's office, the Commission requested more information from Italy on 26 May. Italy responded on 11 June. After analysis, the Commission found that the 'the conditions' justification currently lacks sufficient reasoning', and that the decree should have been reviewed by them before implementation by Italy. The Commission also added that, as well as Article 21, Italy's approach may breach other EU laws on the free movement of capital and on prudential oversight by the European Central Bank. An Italian court also partially annulled the decree on 12 July. The Commission is awaiting further response from Italy before deciding its next steps. The offer period of the deal to Banco BPM from UniCredit is set to expire on 23 July. UniCredit offered to buy Banco BPM for €10 billion in late November last year. In a statement, the smaller lender said the bid from UniCredit did "not reflect in any way the profitability and further potential to create value for Banco BPM shareholders", rejecting the offer.
Business Wire
10-07-2025
- Business
- Business Wire
NUBURU Stockholders Green-Light Strategy to Finance Transformation in Key Stockholder Vote
CENTENNIAL, Colo.--(BUSINESS WIRE)--NUBURU, Inc. (NYSE American: BURU) ('NUBURU' or the 'Company') is excited to announce that its stockholders have overwhelmingly approved key proposals in support of its financing strategy, a pivotal milestone in the Company's strategic transformation into a leader in defense-tech and operational resilience through its Defense & Security Hub initiative. This stockholder approval enables NUBURU to advance key strategic objectives, including: Electing Alessandro Zamboni as a Class III director to hold office until the annual meeting of stockholders to be held in 2028 and until his successor is duly elected and qualified. Increasing authorized share capital and access to equity financings to facilitate strategic growth initiatives. Ratifying financing agreements to support the working capital needs of the Company, which also provide us with the opportunity to eliminate the market overhang relating to the outstanding preferred stock (which is now classified as a current liability) and extinguish liabilities to key vendors, all of which will strengthen the Company's financial position and make the Company more attractive to investors. 'This stockholder vote is a resounding endorsement of the strategic goals of our transformation plan commenced in early January ' remarked Alessandro Zamboni, Executive Chairman of NUBURU. 'With key components of our ongoing financing structure now in place, we will continue to devote our time and attention to consummating our previously announced strategic investment in Tekne S.p.A., which will be core to our Defense & Security Hub initiative.' The strategic investment in Tekne S.p.A. ('Tekne') remains central to NUBURU's Defense & Security Hub initiative, also by leveraging the Company's high-performance blue laser technology know-how alongside Tekne's product roadmap, which includes its 'Tactical Bubble' defense products, currently operational in Italian military exercises, projected to generate revenue exceeding €50 million. The Tactical Bubble enables secure command-and-control networks, countering threats like drones and electromagnetic warfare, and is a key part of Italy's defense modernization. Management notes that this vote was a pivotal step for NUBURU, allowing for a critical restructuring process and providing the necessary financial flexibility to support the Company's announced business plans. Mr. Zamboni, re-elected for another term as a Director by this vote, has been central to that process. Mr. Zamboni also continues in his role as Executive Chairman of the Company. The completion of the Tekne strategic investment is contingent, among things, upon obtaining the 'Golden Power' authorization as mandated by Italian law. The review process for such authorization is anticipated to conclude by August 5, 2025, unless suspensions are invoked as a result of additional requests for clarification issued by the Italian authorities. Such suspensions would legally extend the review timeline and could consequently defer the expected deadline. The vote also included stockholder authorization for a potential reverse split if necessary to meet major exchange listing standards. That said, management states it will prioritize minimizing stockholder dilution as market conditions allow. Zamboni continued, 'A reverse stock split is a non-priority unless required for driving long-term sustainable growth through improved market positioning. We prefer to focus instead on driving shareholder value through execution and strategic partnerships.' About NUBURU Founded in 2015, NUBURU, Inc. has developed and previously manufactured industrial blue laser technology. Under a renewed strategic vision led by Executive Chairman Alessandro Zamboni, the Company is expanding into complementary sectors including defense-tech, security, and critical infrastructure resilience. NUBURU is leveraging a combination of internal innovation and strategic acquisitions to build out its Defense & Security Hub, targeting long-term, sustainable growth across high-value government and enterprise markets. For more information, visit Forward-Looking Statements This press release contains certain 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release may be forward-looking statements, identified by words such as 'may,' 'should,' 'expect,' 'intend,' 'will,' 'estimate,' 'anticipate,' 'believe,' 'predict,' 'plan,' 'seek,' 'targets,' 'projects,' 'could,' 'would,' 'continue,' 'forecast,' or their negatives or variations. These statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially, including but not limited to: (1) the ability to meet security exchange listing standards; (2) the impact of the loss of the Company's patent portfolio through foreclosure; (3) failure to achieve expectations regarding business development and acquisition strategy; (4) inability to access sufficient capital; (5) inability to realize anticipated benefits of acquisitions; (6) changes in applicable laws or regulations; (7) adverse economic, business, or competitive factors; (8) financial market volatility due to geopolitical and economic factors; and (9) other risks detailed in the Company's SEC filings, including its most recent Form 10-K or Form 10-Q. These filings address additional risks that could cause actual results to differ from those in the forward-looking statements. Readers should not place undue reliance on these statements, which speak only as of the date they are made. NUBURU undertakes no obligation to update or revise these statements, except as required by law. Source: NUBURU, Inc.
