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Jan 4th, 2013
Rubicon Technology closes $25 million secured revolving credit facility
Rubicon Technology, Inc. (NASDAQ:RBCN), a leading provider of sapphire substrates and products to the LED, semiconductor, and optical industries, 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.
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