Rubicon Technology Closes $25 Million Secured Revolving Credit Facility

Date Announced: 03 Jan 2013

Sapphire crystal and wafer maker remains debt-free while facility is undrawn.

BENSENVILLE, Ill.--(BUSINESS WIRE)--Rubicon Technology, Inc. (RBCN), a leading provider of sapphire substrates and products to the LED, semiconductor, and optical industries, today announced the closing of a three year $25 million secured revolving credit facility with Silicon Valley Bank.

“This undrawn credit facility bolsters Rubicon’s strong liquidity position,” said William Weissman, Chief Financial Officer of Rubicon Technology. “We believe it is prudent to establish this additional financial flexibility for the future,” he concluded.

Rubicon currently has no debt. The terms and conditions of the credit facility will be described in the company’s filings with the Securities and Exchange Commission.

Source: Rubicon Technology

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