Rubicon Technology Inc of Bensenville, IL, USA (which makes monocrystalline sapphire substrates and products for the LED, RFIC, semiconductor and optical industries) has announced the sale of $28.2m of its common stock pursuant to an underwriting agreement with sole book-running manager Canaccord Genuity Inc. The last reported sale price of Rubicon's common stock (as reported by the NASDAQ Global Market on 7 January) was $11.44 per share.
Rubicon intends to use the net proceeds for research and development of new products, capacity expansion and general corporate purposes.
Closing of the offering is expected to occur on or about 14 January, 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 sold in the offering.
The offering is being made pursuant to an effective shelf registration statement filed with the US Securities and Exchange Commission (SEC). Copies of the prospectus supplement and accompanying prospectus can be obtained from Canaccord Genuity, Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, USA, phone: +1-800-225-6201.