Rush Factory Oyj published a company brochure regarding the share exchange with Sunborn International Holding Oy
From GlobeNewswire: 2025-03-28 10:30:00
Rush Factory Oyj has published a company brochure regarding the share exchange with Sunborn International Holding Oy, including pro forma information. The estimated completion date of the share exchange is April 16, 2025, with trading of Sunborn International Group shares on First North expected to commence shortly after. The share exchange will result in Sunborn Oy owning approximately 47.8% of the new entity, with other shareholders including Saga Palvelut Oy and PM Ruukki Oy. Additional details can be found in the company brochure available on Rush Factory’s website.
Sunborn International Group’s business model focuses on six pillars, from acquiring and managing floating project locations to operating yacht hotels. The group aims to become a global leader in floating accommodation, tourism, and event properties. Financial data for Sunborn London and Sunborn Gibraltar yacht hotels for 2024 show solid performance, with plans for future expansion in Sevilla. Altum Marine’s valuation reports indicate a positive outlook for the group’s assets. Stay tuned for updates on the evolving Sunborn International Group strategy and growth plans. Sunborn International -konserni päivittää lopullisen Sevillan vuokrasopimuksen solmimista koskevaa aikataulua, arvioiden solmivan lopullisen sopimuksen vuoden 2025 ensimmäisen vuosipuoliskon aikana. Lontoon jahtihotellin rakennussopimus voidaan allekirjoittaa, kun Espanjan vientiluottolaitos CESCE hyväksyy sen. Sunborn International -konsernin hotellikapasiteetti kasvaa uusien jahtihotellien myötä 450 huoneella, osana suunnitelmaa rakentaa yli 3 500 hotellihuonetta uuden Evolution-laivasarjan mallin mukaisesti seuraavan 5–10 vuoden aikana eri puolilla maailmaa. Tiedotteessa esitetyt Pro Forma -taloudelliset tiedot on havainnollistamistarkoituksessa ja perustuvat oletuksiin Osakevaihdosta aiheutuvista tapahtumista. Some companies do not calculate alternative key figures in a consistent manner, making them not comparable with those presented by other companies. Pro forma key figures summary for specific periods and dates: Revenue for 2024 was 25,101 thousand euros, EBITDA was 4,730 thousand euros, and profit before taxes was -9,655 thousand euros. Sunborn International Holding Oy presents key figures derived from combined historical data, with revenue in 2024 at 25.1 million euros and an operational EBITDA of 5.5 million euros. Additional details and advisors for Rush Factory Oyj are available for further information. Rush Factory is an international experiential factory specializing in unique event and experience concepts, while Sunborn International Holding Oy is a developer and operator of high-end yacht hotels and floating structures.
For more information, contact CEO Mika Metsämäki at [email protected] or +358 44 5544 894. Rush Factory Oyj and Sunborn International Holding Oy are not offering securities to the public in the United States, and no securities are being registered under the U.S. Securities Act. This announcement is for informational purposes only and is not an offer to buy securities. Please refer to the company prospectus for more detailed information. Rush Factory and SBIH are not responsible for any damages resulting from the use of this information. Remember to conduct your own analysis before making any investment decisions. The news discusses the offering of securities in Relevant Member States only to experienced investors or in situations defined by the Prospectus Regulation. Information provided in the announcement is intended for individuals outside the UK or those with professional investment experience as per the Financial Services and Markets Act. The Company’s prospectus is available on Rush Factory’s website. The news contains forward-looking statements based on current plans, estimates, forecasts, and expectations. Pro forma financial information regarding SBIH’s operations and assets is included, but it may not be audited or evaluated by an independent auditor. Origo Partners Oy acts as SBIH’s financial advisor outside the US, solely for SBIH and not for any other party. Pro forma -tietoja laadittaessa historiallisiin tietoihin on tehty oikaisuja, joiden tarkoituksena on tuoda esiin tapahtumien pro forma -vaikutus. SBIH ja Rush Factory ovat analysoineet tilinpäätösperiaatteita eivätkä ole havainneet eroja, jotka vaikuttaisivat pro forma -tietoihin. Oikaisuja on tehty Rush Factoryn tilikauden tilintarkastamattomaan taseeseen ja tuloslaskelmaan. SBIH ja Rush Factory yhdistyvät osakevaihdon kautta, jossa Rush Factory hankkii SBIH:n koko osakekannan. Osakevaihto on ehdollinen ylimääräisen yhtiökokouksen hyväksynnälle ja arvioidaan toteutuvan 16.4.2025. Rush Factory kirjaa osakevaihdon hankintana sijoitetun vapaan oman pääoman rahastoon. Rush Factory Oyj ja SBIH yhdistyvät osakevaihdon kautta, ja ennen yhdistymistä toteutetaan omistusjärjestelyjä. Tilintarkastamattomat pro forma -tuloslaskelmat vuosilta 2023 ja 2024 esittelevät konsernin taloudellisen tilanteen. Lisäksi esitetään pro forma -tase vuodelta 2024. Pro forma -oikaisut kuvataan tarkemmin, mukaan lukien konkurssiin asetetun Funrun Finland Oy:n vaikutus. Lisäksi Rush Factory allekirjoitti rahoitussopimuksen saadakseen siltarahoitusta ja lainaa omistaman kiinteistön takaisinmaksuun. PM Ruukki Oy ja Jerovit Advisory Oy tarjoavat myös oman pääoman ehtoista rahoitusta osana sopimusta. In a financial agreement, parties agreed to convert additional loan amounts, including a 43 thousand euro portion, into new shares of Rush Factory as part of a 400 thousand euro investment. The investment is capped at 400 thousand euros, meaning the additional loan amounts will reduce the new equity financing’s share in the share issue. As part of the financing arrangement, Rush Factory’s current creditors, Niemelän Markka & Ropo Oy and Markus Niemelä, have debts totaling 409 thousand euros that can be converted into Rush Factory shares at a price of 0.453 euros per share.
Rush Factory’s pro forma financial statements for the year ending December 31, 2024, show a net loss of 870 thousand euros. This is a significant decrease from the previous year’s net loss of 1.221 million euros for the year ending December 31, 2023. The company’s financial position is detailed in the pro forma balance sheet as of December 31, 2024, showing total assets of 503.1 million euros and total liabilities of 1.054 million euros. SBIH:n yhdistellyt historialliset tiedot ja tuloslaskelmat esitetään tilintarkastamattomina. Pro forma -tuloslaskelma vuodelta 2024 osoittaa liikevaihdon olevan 25,101 tuhatta euroa ja liikevoiton olevan -803,146 tuhatta euroa. Vuoden 2023 pro forma -tuloslaskelma taas osoittaa liikevaihdon olevan 23,820 tuhatta euroa ja liikevoiton olevan -3,131 tuhatta euroa. SBIH:n yhdistelty tase vuodelta 2024 osoittaa vastaavan yhteensä 115,428 tuhatta euroa omaa pääomaa ja 45,936 tuhatta euroa vierasta pääomaa. Sisäiset eliminoinnit on tehty erillisyhtiöiden välillä. The news article discusses adjustments made to Sunborn International Holding Oy, Sunborn International Oy, and Sunborn London Oyj’s internal financial transactions related to interest income, financial income, interest expenses, and financial expenses. Pro forma balance sheet adjustments for December 31, 2024, include the elimination of invested equity, group receivables, group liabilities, and subsidiary shares. Various IFRS adjustments were made to ensure the comparability of financial statements. Additionally, there were adjustments to lease-related expenses resulting in changes to interest and financial costs, depreciation, business expenses, and deferred tax costs.
Furthermore, agreements were reached for investments in SBIH by PM Ruukki Oy, Jerovit Investment Oy, Oy Haapalandia Invest Ltd, and Sunborn Oy, with a minimum investment of 11 million euros. Conversions of loans to equity, updated debt agreements, and adjustments to financial statements for comparability were also highlighted in the article. Additionally, Osakevaihtoon’s impact on Pro Forma data was discussed, including adjustments related to goodwill, capital eliminations, and transaction costs. The amortization of goodwill for the fiscal year ending on December 31, 2024 was a total of 6.5 million euros, the same as the previous fiscal year ending on December 31, 2023. Unadjusted information for future fiscal years indicates Sunborn International Group’s unadjusted management and administration expenses are expected to increase by approximately 211 thousand euros in the next fiscal year. Additionally, Sunborn International Holdings and Sunborn Oy have entered into an agreement regarding trademark and logo usage, with fixed royalty payments of 100 thousand euros per year and increases for new development projects. Sunborn (Gibraltar) Holdings Ltd has only prepared an unaudited balance sheet in accordance with Gibraltar accounting regulations.
Read more at GlobeNewswire: Rush Factory Oyj:n ja Sunborn International Holding Oy:n