Rubicon Technology, Inc. set to purchase Janel Group LLC

Merger Announcement: Rubicon Technology, Inc. has entered into a definitive merger agreement to acquire Janel Group LLC, making it a wholly owned subsidiary of Rubicon.

Financial Details: Janel Group reported revenues of approximately $181.3 million and operating income of about $8.7 million for the year ending June 30, 2025; Rubicon will issue 7 million shares valued at $4.75 each in exchange for Janel Group's equity.

Shareholder Impact: Following the acquisition, Janel Corp will increase its ownership stake in Rubicon from 46.6% to approximately 86.5%, with plans for a tender offer for additional shares post-approval.

Operational Continuity: The management team of Janel Group will remain intact after the acquisition, and Rubicon's stock will continue trading on the OTC market.