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Date Announced: 16 Jun 2010
FRANKLIN PARK, Ill., Jun 16, 2010 (BUSINESS WIRE) --Rubicon Technology, Inc. (Nasdaq: RBCN) (the "Company") today announced that it has priced an underwritten public offering of 2,634,000shares of its common stock at $30.00 per share. 1,800,000 shares of common stock will be sold by the Company and 834,000 shares of common stock will be sold by selling stockholders identified in the free writing prospectus. The Company has granted the underwriters a 30-day option to purchase up to an additional 395,100 shares of its common stock to cover over-allotments, if any.
The Company's net proceeds from this offering, after deducting underwriting discounts and commissions and estimated offering expenses, will be approximately $50.2 million (approximately $61.5 million if the over-allotment option is exercised in full). The Company will not receive any proceeds from the sale of shares of common stock by the selling stockholders. The offering is scheduled to close on June 21, 2010, subject to customary closing conditions.
The Company expects to use the net proceeds from the offering to expand its crystal growth and post crystal growth manufacturing facilities and for working capital and other general corporate purposes.
UBS Securities LLC is acting as sole book-running manager for the offering and Canaccord Genuity Inc. is acting as a co-lead manager for the offering.
E-mail: pr@rubicon-es2.com
Web Site: www.rubicon-es2.com/index.html
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