Rubicon Technology, Inc. (OTCQB:RBCN) and Janel Corporation announced a definitive merger agreement to acquire Janel Group LLC, making it a wholly owned subsidiary of Rubicon.
Janel Group, a non-asset based provider of cargo transportation logistics services, had revenues of $181.3 million and operating income of $8.7 million for the 12-month period ended June 30, 2025.
The transaction includes an exchange of 7,000,000 shares of Rubicon common stock valued at $4.75 per share and assumption of $23 million in indebtedness by Rubicon.
Merger Agreement
Rubicon Technology, Inc. to acquire Janel Group LLC, with Janel Group becoming a wholly owned subsidiary of Rubicon.
Financial Performance
Janel Group reported revenues of $181.3 million and operating income of $8.7 million for the 12-month period ended June 30, 2025.
Equity Exchange
Janel Corp will receive 7,000,000 shares of Rubicon common stock at a value of $4.75 per share in exchange for Janel Group equity.
- The acquisition strengthens Rubicon's position by providing access to a profitable business and enhanced capital resources.
- Janel Corp shareholders will benefit from the ownership of Rubicon, paving the way for potential growth opportunities.
The merger between Rubicon Technology, Inc. and Janel Group LLC marks a significant strategic move that promises mutual benefits and growth for both entities.