SBIH PLANS COMBINATION WITH RUSH FACTORY PLC
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December 5, 2024
Sunborn International Holding Oy (SBIH) plans a combination with Rush Factory Plc through share exchange and listing on the Nasdaq First North Growth Market Finland
Sunborn International Holding Oy (SBIH) plans to combine with Rush Factory Plc through a share exchange and listing on Nasdaq Helsinki’s First North marketplace, forming a new Sunborn International Group. Other Sunborn companies which are not part of the SBIH group will continue to operate separately from the new Sunborn International Group.
Sunborn is a pioneer in floating property development, developing, owning and operating yacht hotels and other floating real estate since 1998. SBIH currently owns and operates two international yacht hotels, located in London and Gibraltar.
As well as two yacht hotels in successful operation, SBIH has several new hotel development projects in prime locations around the world. The concept is highly scalable and the company is targeting significant growth by 2028.
“We are excited about the combination and opportunity to take a big step forward with our yacht hotel business,” said Hans Niemi, CEO of SBIH. “We have a unique hotel concept which has proven to be highly effective and scalable. Right now, we have several hotel developments at an advanced stage and the combination will provide a platform for significant growth.”
The share exchange will provide the new Sunborn International Group with capital for investments in both existing and new yacht hotel projects and will enable the acceleration of the yacht hotel business growth strategy.
In connection with the share exchange and related arrangements, SBIH has on the date of this press release received binding investment commitments from individual and independent investors referring themselves as Active Owner, totaling 13.8 million euros, which exceeds the company’s original target of 11.8 million euros for capital increase.
The new Sunborn International Group will embed a strong ESG component in its strategy through technology and innovation. The planned combination and listing on the Nasdaq First North marketplace are expected to be completed by the end of February 2025.
Sunborn International Holding Oy
Sunborn International Holding Oy (SBIH) is an innovative developer, owner and operator of high-quality yacht hotels and other floating real estate with global operations. Yacht hotels and floating real estate offer an opportunity to utilise unused water space in city harbours and prestigious waterfront locations. SBIH currently owns two yacht hotels located in London and Gibraltar, which combine exclusive accommodation, restaurant services, conference and event venues. SBIH is an industry pioneer, with extensive experience in shipbuilding and vessel design as well as developing waterfront areas and harbours and tackling permitting processes in various countries. Employing around 250 people, SBIH is part of the family-owned Sunborn Group.
Further information: www.sbih.group
Important notice
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This release is for information purposes only and does not constitute an offer of or an invitation by or on behalf of, Rush Factory or SBIH, or any other person, to purchase any securities. Any investment decision concerning the Share Exchange must be based on a company description to be published at a later date by Rush Factory.