Current Report Filing (8-k)
June 24 2020 - 4:06PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): June 23, 2020
RUBICON
TECHNOLOGY, INC.
(Exact
name of registrant as specified in its charter)
Delaware
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001-33834
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36-4419301
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(State
or other jurisdiction
of incorporation)
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(Commission
File
Number)
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(I.R.S.
Employer
Identification No.)
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900
East Green Street
Bensenville,
Illinois
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60106
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(Address
of principal executive offices)
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(Zip
Code)
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(847)
295-7000
(Registrant’s
telephone number, including area code)
N/A
(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:
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☐
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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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. ☐
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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Common
Stock, par value $.001 per share Preferred Share Purchase Right
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RBCN
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The
Nasdaq Stock Market LLC
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Item
2.01 Completion of Acquisition or Disposition of Assets
On June 23, 2020, Rubicon Sapphire Technology
(Malaysia) SDN. BHD. (the “Company”), a wholly owned subsidiary of Rubicon Technology, Inc. (“RTI”), completed
the previously announced sale to Computime (Malaysia) SDN. BHD (the “Purchaser”) of its sixty (60)-year leasehold land
held under PN 11295, Lot 10010 (previously H.S.(D) 57673, PT 4627), Mukim 01, Daerah Seberang Perai Tengah, Negeri Pulau Pinang,
Malaysia measuring 12,383 square metres in area together with all the buildings erected thereon bearing assessment address No.
3065, Tingkat Perusahaan 4A, Kawasan Perusahaaan Perai, 13600 Perai, Penang (the “Property”) pursuant to the terms
and conditions of the Sale and Purchase Agreement (the “Agreement”), dated as of December 19, 2019.
The full text of the Agreement was filed as
Exhibit 10.1 to RTI’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 19, 2019 and
is incorporated herein by reference.
The gross sale price for the Property was Ringgit
Malaysia 20,750,000 (approximately $4.8 million based upon today’s exchange rate which is subject to significant fluctuation
on a daily basis). The Company realized net proceeds of approximately Ringgit Malaysia 20,000,000 (approximately $4.6 million based
upon today’s exchange rate which is subject to significant fluctuation on a daily basis) after the payment of consent fees,
real estate taxes, brokerage and legal fees, transfer and withholding taxes and other expenses.
SIGNATURES
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.
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RUBICON
TECHNOLOGY, INC.
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Dated:
June 24, 2020
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By:
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/s/
Timothy E. Brog
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Name:
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Timothy
E. Brog
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Title:
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Chief
Executive Officer
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2
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