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.

Important notice

The publication or distribution of this release may be restricted by law and persons into whose possession this release or any document or other information referred to herein comes should inform themselves about and observe such restrictions. The information contained herein is not for publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Canada, New Zealand, Australia, Japan, Hong Kong, Singapore, South Africa or any other jurisdiction where such publication or distribution would violate applicable laws or rules or would require additional documents to be completed or registered or require any measure to be undertaken in addition to the requirements under Finnish law.

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.