Rubicon Technology, Inc. (NASDAQ: RBCN), a leading provider of sapphire
substrates and products to the LED, semiconductor and optical markets,
today announced the sale of $28.2 million of its common stock pursuant
to an underwriting agreement with Canaccord Genuity Inc. The last
reported sale price of Rubicon's common stock as reported by the NASDAQ
Global Market on January 7, 2014 was $11.44 per share.
Rubicon intends to use the net proceeds to fund research and development
of new products, for capacity expansion and for general corporate
purposes. Closing of the offering is expected to occur on or about
January 14, 2014, subject to customary closing conditions. In addition,
Rubicon has granted the underwriter a 30-day option to purchase
additional shares of common stock equal to up to 15% of the number of
shares of common stock sold in the offering.
Canaccord Genuity Inc. is acting as sole book-running manager for the
The offering is being made pursuant to an effective shelf registration
statement filed with the Securities and Exchange Commission. This press
release does not constitute an offer to sell or a solicitation of an
offer to buy securities nor shall there be any sale of these securities
in any state in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securties laws of any
such state or jurisdiction. Copies of the prospectus supplement, when
available, and accompanying prospectus may be obtained by sending a
request to the offices of Canaccord Genuity, Attn: Syndicate Department,
99 High Street, 12th Floor, Boston, MA 02110, phone: 1-800-225-6201.
Alternatively, you may get these documents for free by visiting EDGAR on
the SEC website at www.sec.gov.
About Rubicon Technology, Inc.
Rubicon Technology, Inc. is a vertically integrated advanced electronic
materials provider specializing in monocrystalline sapphire for
applications in light-emitting diodes (LEDs), optical systems and
specialty electronic devices. Rubicon has an unmatched technology
platform and expertise extending from the preparation of raw aluminum
oxide through sapphire crystal growth and fabrication to large-diameter
polished sapphire wafers and patterned sapphire substrates (PSS),
enabling Rubicon to supply custom sapphire products with superior
quality and precision.
This press release contains forward-looking statements within the
meaning of the federal securities laws, including the expected closing
date of the offering. These forward-looking statements are based on
Rubicon's current expectations and beliefs concerning future
developments and their potential effects on Rubicon. There can be no
assurance that future developments affecting Rubicon will be those that
Rubicon has anticipated. These forward-looking statements involve a
number of risks, uncertainties (some of which are beyond Rubicon's
control) or other assumptions that may cause actual results or
performance to be materially different from those expressed or implied
by these forward-looking statements. These risks and uncertainties
include, but are not limited to, the risks and uncertainties described
in the section entitled "Risk Factors" in Rubicon's Annual Report on
Form 10-K for the year ended December 31, 2012, in the prospectus
supplement, and in its other filings from time to time filed with the
Securities and Exchange Commission. Should one or more of these risks or
uncertainties materialize, or should any of Rubicon's assumptions prove
incorrect, actual results may vary in material respects from those
projected in these forward-looking statements. Rubicon undertakes no
obligation to publicly update or revise any forward-looking statements.
[ Back To NFVZone's Homepage ]