Bookrunner Canaccord Genuity raises funds for research and development
By Devika Patel
Knoxville, Tenn., Jan. 7 - Rubicon Technology, Inc. said it priced a $28.22 million public offering of stock with a 15%, $4.23 million greenshoe.
The company will sell 2.65 million common shares at $10.65 per share. The price per share reflects a 6.09% discount to the Jan. 6 closing share price of $11.34.
Canaccord Genuity Inc. is the underwriter and bookrunner.
Settlement is expected Jan. 14.
Proceeds will be used for research and development, capacity expansion and for general corporate purposes.
The electronic materials provider is based in Franklin Park, Ill.
| Issuer: | Rubicon Technology, Inc.
|
| Issue: | Common stock
|
| Amount: | $28,222,500
|
| Greenshoe: | $4,233,375
|
| Shares: | 2.65 million
|
| Price: | $10.65
|
| Warrants: | No
|
| Bookrunner: | Canaccord Genuity Inc.
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 14
|
| Stock symbol: | Nasdaq: RBCN
|
| Stock price: | $11.34 at close Jan. 6
|
| Market capitalization: | $259.21 million
|
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