Janel Corporation launches tender offer for up to 45% of Rubicon Technology at $20/share

JANEL CORP

Tender offer for up to 45% of Rubicon common stock at $20.00 per share, subject to Minimum Condition of 35% tender.
Principal stockholders committed to tender 675,263 shares and vote in favor of the transaction.
After closing, Rubicon will pay $11.00 per share capital return to all stockholders.
Financing includes $12M bridge loan from Santander and revolver increase from $31.5M to $35M.
Offer commences within 10 business days, expires after 20; Rubicon may owe termination fee up to $750,000.

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