{"id":19725,"date":"2022-07-05T09:22:43","date_gmt":"2022-07-05T16:22:43","guid":{"rendered":"https:\/\/marketdepth.com\/?p=19725"},"modified":"2022-07-05T09:22:45","modified_gmt":"2022-07-05T16:22:45","slug":"janel-corp-to-acquire-45-of-rubicon-tech","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/janel-corp-to-acquire-45-of-rubicon-tech\/","title":{"rendered":"Janel Corp. to Acquire 45% of Rubicon Tech"},"content":{"rendered":"\n

Rubicon Technology, Inc. (Nasdaq: RBCN)<\/strong> today announced <\/a>its entry into a definitive Stock Purchase and Sale Agreement with Janel Corporation.<\/p>\n\n\n\n

“After careful and thorough analysis, together with the advice of our advisors, the Board has endorsed this transaction as being in the best interest of Rubicon\u2019s stockholders.”<\/p>Timothy E. Brog, the Company\u2019s Chief Executive Officer<\/cite><\/blockquote>\n\n\n\n

Janel will commence a cash tender offer to purchase up to 45% of the outstanding shares of Rubicon’s common stock on a fully-diluted basis at a price of $20.00 per share, a 120% premium to the Company’s closing stock price on the NASDAQ on July 1st, 2022.<\/p>\n\n\n\n

“We are pleased that the combined tender offer and subsequent distribution of cash to our stockholders will provide stockholders a significant premium to the current market price, while also enabling investors to retain equity in the Company and participate in its future direction.”<\/p>Timothy E. Brog, the Company\u2019s Chief Executive Officer<\/cite><\/blockquote>\n\n\n\n

Upon completion of the tender offer, Rubicon will distribute cash in the amount of $11.00 per share to the Company\u2019s stockholders. Thereafter, Rubicon anticipates that it will commence the process to voluntarily delist from the Nasdaq Stock Market and deregister its securities with the Securities and Exchange Commission.<\/p>\n","protected":false},"excerpt":{"rendered":"Rubicon Technology, Inc. (Nasdaq: RBCN) today announced its entry into a definitive Stock Purchase and Sale Agreement with Janel Corporation. “After careful and thorough analysis, together with the advice of our advisors, the Board has endorsed this transaction as being in the best interest of Rubicon\u2019s stockholders.” Timothy E. Brog, the Company\u2019s Chief Executive Officer… View Article<\/a>","protected":false},"author":3,"featured_media":18744,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[10,31,17,7,16],"tags":[],"acf":[],"yoast_head":"\nJanel Corp. to Acquire 45% of Rubicon Tech - MarketDepth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/marketdepth.com\/janel-corp-to-acquire-45-of-rubicon-tech\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Janel Corp. to Acquire 45% of Rubicon Tech - MarketDepth\" \/>\n<meta property=\"og:description\" content=\"Rubicon Technology, Inc. (Nasdaq: RBCN) today announced its entry into a definitive Stock Purchase and Sale Agreement with Janel Corporation. “After careful and thorough analysis, together with the advice of our advisors, the Board has endorsed this transaction as being in the best interest of Rubicon\u2019s stockholders.” Timothy E. Brog, the Company\u2019s Chief Executive Officer... 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