Stock Alert: Rubicon Project Shares Fall

(RTTNews) - Shares of online technology advertising firm Rubicon Project, Inc. (RUBI) are losing more than 6 percent in the morning trade on Friday, at $9.47. The stock has been trading in a range of $4.46 to $10.96 in the past 52 weeks.

Thursday, Rubicon Project and Telaria Inc. (TLRA) had filed a joint proxy statement/ prospectus, providing details of the two companies' stock-for-stock merger agreement. The companies noted that the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for the deal.

Under the terms of the merger agreement announced in December 2019, each share of Telaria common stock issued and outstanding as of the effective time of the merger will be converted into the right to receive 1.082 shares of Rubicon Project common stock. The transaction is expected to close in the first half of 2020.