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RUBICON TECHNOLOGY EXTENDS SECTION 382 RIGHTS AGREEMENT TO PROTECT THE VALUE OF ITS NET OPERATING LOSSES
RUBICON TECHNOLOGY EXTENDS SECTION 382 RIGHTS AGREEMENT TO PROTECT THE VALUE OF ITS NET OPERATING LOSSES
Bensenville, IL, Dec. 18, 2020 Rubicon Technology, Inc. (NASDAQ: RBCN) announced today that it has entered into an amendment to extend its Section 382 Rights Agreement (the “Rights Agreement”). The Rights Agreement was entered into in an effort to preserve stockholder value by protecting against a possible limitation on the Company’s ability to use its net operating loss carry-forwards, which for U.S. federal income tax purposes were estimated at approximately $188.1 million as of December 31, 2019.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Rubicon Technology Announces a $3 Million Stock Repurchase Plan
Rubicon Technology, Inc.December 16, 2020 GMT
BENSENVILLE, IL, Dec. 16, 2020 (GLOBE NEWSWIRE) Rubicon Technology, Inc. (“RTI”) (NASDAQ: RBCN) had previously implemented a stock repurchase plan to repurchase up to $3 million of its common stock in November 2018. In July 2020, RTI used up all of the remaining amount of such initial $3 million authorization. Today, RTI announced that its Board of Directors has authorized another stock repurchase plan to purchase up to an additional $3 million of its common stock from time to time through open market and private transactions. The timing, price and volume of repurchases will be based upon market conditions, relevant securities laws and other factors. The stock repurchase plan expires on December 18, 2022 and may be terminated, suspended or modified at any time. Ther