EX-99.1 2 ef20054286_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Rubicon Technology, Inc. to acquire Janel Group LLC Bensenville, IL and New York, New York, August 20, 2025 / GLOBE NEWSWIRE / - Rubicon Technology, Inc. (OTCQB:RBCN) (“Rubicon”) and Janel Corporation (OTCQX:JANL) (“Janel Corp”) today announced that they have entered into a definitive merger agreement, pursuant to which Rubicon will acquire Janel Group LLC (“Janel Group”) with Janel Group becoming a wholly owned subsidiary of Rubicon and Janel Corp receiving shares of Rubicon common stock. Janel Group, based in Garden City, New York, and originally founded in 1974, is a wholly owned subsidiary of Janel Corp. Janel Group had revenues of approximately $181.3 million and operating income of approximately $8.7 million for the 12-month period ended June 30, 2025. The company is a non-asset based, full-service provider of cargo transportation logistics management services. Its management team will remain in place as part of Rubicon. The transaction allows Rubicon to acquire a profitable business and better access to capital. Janel Corp shareholders will benefit from its ownership of Rubicon. The transaction, which was app…
Open exhibit ↗Current Report · Items 7.01, 9.01 · 8-K
JANEL CORP
JANLOTCEQUITYCurrent
Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On August 20, 2025, Janel Corporation and Rubicon Technology, Inc. issued a joint press release announcing the parties’ entry into a strategic transaction, a copy of which is attached as Exhibit 99.1 and is incorporated by reference herein.…
Company context
Janel Group LLC is a non-asset based, full-service provider of cargo transportation logistics management services, including freight forwarding via air, ocean and land-based carriers; customs brokerage services; warehousing and distribution services; trucking and other value-added logistics services. The company operates in the United States with over 25 locations and serves customers globally through its networks of international partners.