22 June 2010


Over-allotment option boosts Rubicon’s public offering proceeds to $61.5m

Rubicon Technology Inc of Franklin Park, IL, USA, which makes monocrystalline sapphire substrates and products for the LED, RFIC, semiconductor and optical industries, has closed its public offering of common stock (announced on 11 June) at a price of $30 per share.

Of the 3,029,100 shares sold, 2,195,100 were sold by the firm (including 395,100 pursuant to the full exercise of the underwriters’ over-allotment option) and 834,000 were sold by selling stockholders.

Net of estimated offering expenses and underwriting discounts and commissions, total proceeds were about $85.2m, including about $61.5m to Rubicon and $23.7m to selling stockholders. The firm expects to use most of the proceeds to expand its crystal-growth and post-crystal-growth manufacturing facilities.

See related items:

Rubicon prices stock offering at $30 per share to raise $50.2m

Sapphire substrate maker Rubicon offers 1.8 million shares to fund expansion

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