Janel acquires 44.99% stake in Rubicon Technology for $22.2M

JANEL CORP

Acquired 1,108,000 shares of Rubicon at $20.00 per share, total $22.16M, representing 44.99% of outstanding shares.
Acquisition funded from cash on hand and proceeds of a bridge loan under Santander Bank loan agreement.
Two Janel designees appointed to Rubicon's board, replacing two resigned directors.
Financial statements of acquired business to be filed by amendment within 71 days.

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