Rubicon Technology secondary offering to total up to $32.5 million

Price set at $13 per share; Canaccord Genuity acts as bookrunner

By Jennifer Chiou

New York, March 19 - Rubicon Technology, Inc. announced a $13-per-share price for a secondary offering of its stock.

According to a news release, the selling stockholders will sell 2.5 million common shares, up from the originally announced 2 million, for up to $32.5 million of proceeds.

There is a 30-day over-allotment option to purchase up to an additional 375,000 shares.

Canaccord Genuity Inc. is the bookrunner. D.A. Davidson & Co. is acting as co-manager.

The offer is expected to settle on March 24.

As previously noted, the company will not receive any proceeds from the secondary sale.

The Bensenville, Ill., company is an electronic materials provider specializing in monocrystalline sapphire for applications in light-emitting diodes, optical systems and specialty electronic devices.

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