|[January 03, 2013]
Rubicon Technology Closes $25 Million Secured Revolving Credit Facility
BENSENVILLE, Ill. --(Business Wire)--
Rubicon Technology, Inc. (NASDAQ: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
About Rubicon Technology
Rubicon Technology, Inc. is an advanced electronic materials provider
that is engaged in developing, manufacturing and selling monocrystalline
sapphire and other crystalline products for light-emitting diodes
(LEDs), radio frequency integrated circuits (RFICs), blue laser diodes,
optoelectronics and other optical applications. The Company applies its
proprietary crystal growth technology to produce very high-quality
sapphire in a form that allows for volume production of various sizes
and orientations of substrates and windows. Rubicon is a
vertically-integrated manufacturer with capabilities in crystal growth,
high precision core drilling, wafer slicing, surface lapping,
large-diameter polishing and wafer cleaning processes, which the Company
employs to convert the bulk crystal into products with the quality and
precision specified by its customers. The Company is the world leader in
larger diameter products to support next-generation LED, RFIC and
optical window applications.
Further information is available at www.rubicon-es2.com.
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