SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 27, 2018
RUBICON TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
900 East Green Street
|(Address of principal executive offices)||(Zip Code)|
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
|Item 2.01||Completion of Acquisition or Disposition of Assets|
On September 27, 2018, Rubicon Technology BP LLC, a wholly owned subsidiary of Rubicon Technology, Inc. (“Rubicon”) completed the purchase of the property located at 900 East Green Street, Bensenville, Illinois, and the 30,500-square-foot manufacturing and office facility constructed upon such property (the “Property”) from WB PAD Holdings IV, LLC (the “Seller”), pursuant to the terms and conditions of the Agreement of Purchase (the “Agreement”).
The purchase price for the Property was approximately $2.3 million. Since 2007, the Property was leased by Rubicon or one of its subsidiaries (collectively, the “Company”) and it was the headquarters of its operations and one of its growth facilities. Going forward, the Property will be the Company’s sole operating facility and, effective October 1, 2018, will also be used for its fabrication operations. Recently, the Company’s lease payments were approximately $24,000 per month. The Company used its cash on hand to purchase the Property.
The above information is a summary of the Agreement. The Agreement itself is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
|Item 9.01||Financial Statements and Exhibits.|
|10.1||Agreement of Purchase of 900 East Green Street, Bensenville, IL|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|RUBICON TECHNOLOGY, INC.|
|Dated: October 1, 2018||By:||/s/ Timothy E. Brog|
|Name:||Timothy E. Brog|
|Title:||Chief Executive Officer|