Executive Chairman and Co-CEO Alessandro Zamboni outlines the path to closing the acquisition of a 70% stake in the Italian dual-use defense and security manufacturer with approximately 185 personnel across three facilities, and highlights NUBURU’s second consecutive quarter of positive stockholders’ equity and full repayment of its December 2025 YA debenture.

DENVER: $BURU #LYOCON--NUBURU, Inc. (NYSE American: BURU), a next-generation dual-use Defense & Security integrated platform company, today resumed trading on NYSE American and issued the following letter to shareholders from Alessandro Zamboni, Executive Chairman and Co-Chief Executive Officer:

Dear Fellow Shareholders,

BURU trades on NYSE American again today.

Thank you for your patience and continued support. As trading resumes, I invite you to assess our financial progress, the planned Tekne acquisition and the defense and security capabilities we are developing.

The balance sheet behind BURU

In July, our $38.0 million public offering funded full repayment of the approximately $15.5 million December 2025 YA debenture and $1.25 million of Lyocon acquisition notes, eliminating approximately $16.75 million of principal obligations. Preferred stock and warrants issued in the offering remain sources of potential dilution.

At June 30, 2026, assets were $68.36 million, compared with $49.82 million at December 31, 2025. Stockholders’ equity was positive $9.37 million, against a $15.18 million year-end deficit. This was our second consecutive quarter of positive equity and exceeded the $4.0 million threshold cited in NYSE American’s May notice.

The industrial scale behind BURU

Our proposed 70% acquisition of Tekne S.p.A. (“Tekne”) would add a defense and security manufacturer founded in 1990, with approximately 185 personnel and expertise in special vehicles, electronics and mission integration. Its main production base in Ortona, Abruzzo, offers access to the Port of Ortona and nearby Abruzzo Airport, supporting international deliveries and customer access.

Our September 1 update reported approximately $148.0 million (€129.0 million) in active remaining order value at Tekne. After excluding approximately $12.6 million (€11.0 million) identified as presenting elevated cancellation risk, net remaining order value was approximately $135.4 million (€118.0 million). These preliminary, unaudited figures cover 100% of Tekne; consolidation begins only after closing, and realization depends on delivery, acceptance and collection.

Following Golden Power authorization on August 5, we are targeting closing in the first half of October, subject to completing remaining closing steps and implementing the authorization’s terms.

Market context for BURU

At the September 11 close, NUBURU’s indicative common-equity market value was approximately $23.6 million. Eight U.S.-listed defense and security technology companies in our reference group traded at 1.4–23.7× trailing 12-month revenue (median 4.3×). Four reporting funded backlog traded at 1.9–5.6× that measure (median 3.8×). These approximate ratios use common-equity market value.¹

Investors can assess our market value alongside Tekne’s disclosed orders and planned combined capabilities. Growth, margins, capital structure and dilution differ materially across peers. Tekne’s order measure is not funded backlog; consolidation begins only after closing.

US and NATO demand

NATO’s July estimates put 2026 core defense expenditure at approximately $1.03 trillion in the U.S. and $777 billion across European Allies and Canada. MarketsandMarkets estimates the global directed-energy weapons market at $4.58 billion in 2026, rising to $12.11 billion by 2035. Our serviceable market depends on qualification and procurement eligibility.

The August 2026 U.S. National Security Science & Technology Strategy prioritizes directed energy, AI, advanced manufacturing and resilience. The $464.8 million Army E-HEL award announced September 2 covers LOCUST® lasers and tactical-vehicle integration, illustrating demand for integrated systems and ongoing support.

Golden Dome for America, Leonardo’s Michelangelo Security Dome and Greece’s Achilles Shield, supported by an approximately €3 billion agreement announced August 31, illustrate demand for layered protection linking sensors, software and effectors. NUBURU participation would require qualification and contract awards.

Turning capabilities into recurring customer value

Our plan combines Lyocon’s laser engineering, Tekne’s vehicles and electronics after closing, and Orbit’s resilience software and developing deconfliction capabilities into repeatable mission packages that complement existing command-and-control systems. Maddox extends the roadmap into field manufacturing and sustainment.

Building on our announced SunCubes S.r.l. (“SunCubes”) alliance, we are targeting Q4 2026 to sign definitive investment and industrial-cooperation agreements and complete the initial €250,000 advance under the planned investment of up to €1.0 million, subject to final documentation. We plan to continue joint R&D combining Lyocon’s laser technology with SunCubes’ beam-control, tracking and wireless-power solutions. Target applications include counter-drone protection, remote recharging and blue-laser power transmission for SunCubes’ DEEP LIGHT underwater platform.

We aim to turn customer-funded engineering and OEM supply into recurring customer relationships through software subscriptions, multi-year licenses, maintenance, spares, upgrades and sustainment.

What we are accountable for

Our priorities are to finalize NUBURU Defense Italy’s formation and complete the Tekne acquisition through this subsidiary, while strengthening our organization by hiring a Chief Platform Officer to lead the NUBURU Defense & Security Platform’s technology roadmap. We also aim to advance SunCubes, convert orders into revenue and cash, qualify integrated solutions and build multi-year programs.

We remain accountable for delivering durable operating performance and shareholder value. Thank you for your continued support.

Alessandro Zamboni

Executive Chairman and Co-Chief Executive Officer, NUBURU, Inc.

About NUBURU, Inc.

NUBURU, Inc. (NYSE American: BURU) is the next-generation dual-use Defense and Security integrated platform company. NUBURU delivers advanced and deployable software-orchestrated, hardware-enabled protection for modern defense and security, critical-infrastructure and digital-resilience markets. NUBURU operates as an integrated platform of modular capabilities, each delivering standalone operational and financial value while collectively transforming into a comprehensive defense and security capability, which includes:

• Proprietary directed-energy and non-kinetic effects systems and products, including laser dazzlers for sensor denial, soft-kill laser non-kinetic neutralization, counter-drone and counter-FPV systems and future directed-energy capabilities;
• Electronic warfare, including cyber and electromagnetic attack and protection activities (CEMA), jamming and spectrum-dominance operations, and defense mobility programs;
• Operational-resilience AI-assisted orchestrated and analytics software for unified command and control and software-as-a-service solutions; and
• Advanced manufacturing and deployable in-field mobile production and support.

NUBURU is focused on the commercial rollout of its leading products and systems and on creating significant value for shareholders and wider stakeholders. NUBURU aims to do so by continuing to further strengthen its business and converting its growing opportunity pipeline into contractual orders, sustained revenue growth and scaling throughout 2026 and over the longer term.

For more information, please visit www.nuburu.net and follow NUBURU on X at https://x.com/nuburulasers.

Forward-Looking Statements

This letter contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 regarding the Tekne acquisition and its expected closing timing, order realization, NUBURU Defense Italy’s formation and planned integration function, Chief Platform Officer recruitment, mobile counter-drone applications, product qualification, market opportunities, SunCubes definitive agreements targeted for Q4 2026, the staged investment and joint R&D, recurring revenue and shareholder value. Actual results may differ materially due to closing delays or failure; failure to agree definitive SunCubes terms, complete investment stages or obtain applicable Golden Power and other clearances; order modification or cancellation; customer funding, delivery, acceptance and collection risks; technology, manufacturing, cybersecurity, export-control and procurement requirements; competition; recruitment and integration execution risks; operating losses, negative cash flow, going-concern uncertainty, financing needs and dilution; listing compliance and market volatility; and other risks in NUBURU’s SEC filings. Order values are not U.S. GAAP revenue or financial guidance. Tekne’s dollar order values use the fixed $1.1476-per-euro translation in the September 1 disclosure. Balance-sheet figures are as of June 30, 2026 and do not reflect subsequent periods. Spending and market forecasts are not a company-specific addressable-market estimate. Third-party programs imply no NUBURU award, affiliation or equivalent technical performance. Statements speak only as of their date; NUBURU assumes no duty to update them except as required by law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.

¹ Market comparison: group and calculation basis

The eight-company reference group spans defense electronics, autonomous systems, mission software and tactical security equipment. Members are selected for business relevance; this is not a sector index. All eight revenue multiples are included without trimming; the median gives each company equal weight. Funded-backlog figures are reported separately for four members; total backlog and pipeline are excluded from that subset. Ratios use September 11, 2026 closing prices, available common-share counts from public filings and market data, and financial reporting periods ending June 28 – August 1, 2026. They exclude net-debt and potential-dilution adjustments. NUBURU: $2.55 close × approximately 9.26 million common shares = $23.6 million, reflecting the 1-for-40 reverse stock split effective September 1, 2026. Neither the group nor its multiples establish a NUBURU price target.

Fonte: Business Wire