ShareChat – US hedge fund Libra Advisors will take a $12 million stake in Rubicon in a private placement to shore up the company’s funding position and support its future commitments to forestry biotech firm ArborGen.
The New York-based investor will buy 29.3 million shares at 41.29 cents per share, the volume weighted average price over the last 10 trading days, Rubicon said in a statement. The deal will settle at the close of trading on Wednesday, giving Libra a 7.2 percent holding. The shares were unchanged at 40 cents, having dropped 4.8 percent on Friday, and have gained 5.6 percent this year.
