Rubicon files for $100m IPO

The maker of sapphire substrates for LEDs plans to raise to fund its planned capacity expansion.

Courtesy of Semiconductor Today

Rubicon Technology Inc, a manufacturer of monocrystalline sapphire material, wafers, and components, has filed a registration statement with the US Security and Exchange Commission (SEC) for an initial public offering on NASDAQ, aiming to raise up to $100 million.

Sapphire is the most commonly-used material employed as the substrate wafer in the epitaxial growth of LED device structures. The company's main product line is 2-4 inch-diameter sapphire wafers for LEDs and blue laser diodes. Founded in 2000, Rubicon has raised nearly $44 million in venture capital funding since 2001.

Rubicon's revenue was $15.45 million in the first half of 2007. Due to "explosive" growth in the LED market and increasing demand for large-diameter sapphire wafers, Rubicon announced in May its plans to expand its manufacturing capacity (see Rubicon Technology increases sapphire manufacturing capacity).

Read the full story on the Semiconductor Today website.

More in Research & Development