Rubicon Announces Strategic Refinancing Transaction and Equity Raise
Rubicon Technologies (OTC: RBTC) has announced a strategic refinancing transaction including a new revolving facility and a $20 million preferred equity raise, led by Rodina Capital. The refinancing of existing debt facilities has been approved by an independent special committee and the company's Board of Directors.
The company recently reported strong quarterly performance and growth in its core waste brokerage offering. Rubicon has expanded its services through RUBICONConnect™, adding power washing and grease trap programs, while seeing increased interest in Technical Advisory Services for zero waste programs, waste audits, and EPR guidance.
Rubicon Technologies (OTC: RBTC) ha annunciato una transazione strategica di rifinanziamento che include una nuova linea di credito revolving e un aumento di capitale preferenziale di 20 milioni di dollari, guidato da Rodina Capital. Il rifinanziamento delle strutture di debito esistenti è stato approvato da un comitato speciale indipendente e dal Consiglio di Amministrazione dell'azienda.
L'azienda ha recentemente riportato forti performance trimestrali e una crescita nella sua offerta principale di intermediazione dei rifiuti. Rubicon ha ampliato i suoi servizi tramite RUBICONConnect™, aggiungendo programmi di lavaggio ad alta pressione e gestione dei pozzetti di grasso, mentre ha visto un aumento dell'interesse per i Servizi di Consulenza Tecnica per programmi di rifiuti zero, audit dei rifiuti e orientamento EPR.
Rubicon Technologies (OTC: RBTC) ha anunciado una transacción estratégica de refinanciamiento que incluye una nueva línea de crédito revolvente y una recaudación de capital preferente de 20 millones de dólares, liderada por Rodina Capital. El refinanciamiento de las instalaciones de deuda existentes ha sido aprobado por un comité especial independiente y la Junta Directiva de la empresa.
La empresa recientemente reportó un sólido desempeño trimestral y crecimiento en su oferta central de corretaje de residuos. Rubicon ha ampliado sus servicios a través de RUBICONConnect™, añadiendo programas de lavado a presión y trampas de grasa, mientras observa un aumento en el interés por los Servicios de Asesoría Técnica para programas de cero residuos, auditorías de residuos y orientación EPR.
루비콘 테크놀로지스 (OTC: RBTC)는 새로운 리볼빙 시설과 2천만 달러 규모의 우선주 자본 조달을 포함하는 전략적 재융자 거래를 발표했습니다. 이 거래는 로디나 캐피탈의 주도로 진행되었습니다. 기존 부채 시설의 재융자는 독립 특별위원회와 회사 이사회의 승인을 받았습니다.
회사는 최근 분기별 성과와 핵심 폐기물 중개 서비스의 성장을 보고했습니다. 루비콘은 RUBICONConnect™를 통해 고압 세척 및 기름 정화 프로그램을 추가하여 서비스를 확장하였고, 제로 웨이스트 프로그램, 폐기물 감사 및 EPR 지침을 위한 기술 자문 서비스에 대한 관심이 증가하는 모습을 보이고 있습니다.
Rubicon Technologies (OTC: RBTC) a annoncé une opération de refinancement stratégique incluant une nouvelle facilité de crédit renouvelable et une levée de fonds en actions privilégiées de 20 millions de dollars, dirigée par Rodina Capital. Le refinancement des installations de dettes existantes a été approuvé par un comité spécial indépendant et le conseil d'administration de l'entreprise.
L'entreprise a récemment rapporté de solides performances trimestrielles et une croissance de son offre principale en courtage de déchets. Rubicon a élargi ses services grâce à RUBICONConnect™, ajoutant des programmes de lavage à haute pression et de gestion des pièges à graisse, tout en constatant un intérêt croissant pour les services de conseil technique concernant les programmes zéro déchet, les audits de déchets et les orientations EPR.
Rubicon Technologies (OTC: RBTC) hat eine strategische Refinanzierungstransaktion angekündigt, die eine neue revolvierende Kreditlinie und eine bevorzugte Kapitalerhöhung von 20 Millionen US-Dollar umfasst, geleitet von Rodina Capital. Die Refinanzierung bestehender Schuldenanlagen wurde von einem unabhängigen Sonderausschuss und dem Vorstand des Unternehmens genehmigt.
Das Unternehmen hat kürzlich eine starke quartalsweise Leistung und Wachstum seines Kernangebotes im Bereich Abfallvermittlung gemeldet. Rubicon hat seine Dienstleistungen durch RUBICONConnect™ erweitert und Programme für Hochdruckreinigung und Fettabscheider hinzugefügt, während das Interesse an technischen Beratungsdiensten für Null-Abfall-Programme, Abfall-Audits und EPR-Leitlinien zunimmt.
- $20 million preferred equity raise secured
- Successfully refinanced existing debt facilities
- Growth reported in core waste brokerage business
- Expansion of service offerings through RUBICONConnect™
- Increased customer interest in Technical Advisory Services
- Company trading on OTC markets rather than major exchange
Rodina Capital, a private investment firm based in
“On the back of our latest quarterly performance, these transactions will allow Rubicon to continue enhancing our partner-centric experience,” said Osman Ahmed, Interim CEO of Rubicon. “This capital infusion strengthens our financial position, enabling us to enhance our services and build even deeper relationships across our network with our customer and hauler partners. We remain committed to delivering innovative solutions that drive value and sustainability for all our stakeholders.”
In May, Rubicon marked a return to its core principles, a business centered on a customer-focused approach that has been instrumental in the Company’s growth from the outset. The strategic move underscored Rubicon’s dedication to the RUBICONConnect™ product, which serves commercial waste generators from small to medium-sized businesses to Fortune 500 companies. In addition to growing the Company’s core waste brokerage offering, last quarter Rubicon experienced strong growth in its ancillary service offerings. These include the expansion of newer services such as power washing and a comprehensive grease trap program, all of which can be seamlessly ordered through the RUBICONConnect portal. Furthermore, the company continues to see increased interest from customers and prospects in its Technical Advisory Services (TAS), which provide tailored consulting on zero waste programs, waste audits and material characterizations, and extended producer responsibility (EPR) guidance.
A Form 8-K reflecting the terms of the agreement will be filed.
About Rubicon
Rubicon builds technology products and provides expert sustainability solutions to waste generators and material processors to help them understand, manage, and reduce waste. As a mission-driven company, Rubicon helps its customers improve operational efficiency, unlock economic value, and deliver better environmental outcomes. To learn more, visit rubicon.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon current expectations, estimates, projections, and assumptions that, while considered reasonable by Rubicon and its management, are inherently uncertain; factors that may cause actual results to differ materially from current expectations include, but are not limited to: 1) the outcome of any legal proceedings that may be instituted against Rubicon or others following the closing of the business combination; 2) changes in applicable laws or regulations; 3) the possibility that Rubicon may be adversely affected by other economic, business and/or competitive factors; 4) Rubicon’s execution of anticipated operational efficiency initiatives, cost reduction measures and financing arrangements; and 5) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (filed March 28, 2024 with the Securities and Exchange Commission (the “SEC”)), Registration Statement on Form S-3, as amended, filed with the SEC, and other documents Rubicon has filed with the SEC. Although Rubicon believes the expectations reflected in the forward-looking statements are reasonable, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward looking statements will be achieved. There may be additional risks that Rubicon presently does not know of or that Rubicon currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements, many of which are beyond Rubicon’s control. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Rubicon does not undertake, and expressly disclaims, any duty to update these forward-looking statements, except as otherwise required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241203741196/en/
Benjamin Spall
Director of Communications
benjamin.spall@rubicon.com
Source: Rubicon Technologies, Inc.
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