AXT INC 8-K

What Happened AXT Inc. filed an 8‑K on December 29, 2025, disclosing an underwriting agreement for a public offering of its common stock. The Company agreed to sell 7,098,492 "base" shares at $12.25 per share (≈ $87 million gross proceeds) and granted the underwriters a 30‑day option to buy up to 1,064,773 additional shares. The underwriters exercised that over‑allotment option in full, bringing total shares to 8,163,265 and total gross proceeds to approximately $100 million before fees and expenses. The offering is expected to close on December 30, 2025, subject to customary conditions.

Key Details

• Offering price: $12.25 per share.
• Base shares: 7,098,492 (≈ $87M gross); Option shares: 1,064,773; total if exercised: 8,163,265 (≈ $100M gross).
• Underwriters: Northland Securities, Inc. (sole bookrunner); Wedbush Securities Inc. and Craig‑Hallum Capital Group LLC (co‑managers).
• Use of proceeds: support subsidiary Beijing Tongmei Xtal Technology Co., Ltd. to expand indium phosphide substrate export capacity, R&D, working capital and general corporate purposes.
• Lock‑up: Company executives and directors agreed not to sell or hedge shares for 60 days after the prospectus supplement (subject to exceptions).

Why It Matters This financing gives AXT immediate capital to expand manufacturing capacity (through its Beijing subsidiary) and to fund R&D and operations. For investors, the raise dilutes existing shareholders (new shares issued) but provides cash that the company intends to use to grow production of indium phosphide substrates — a key product for certain semiconductor markets. The press release and legal opinion are attached to the filing; the offering was made under the Company's Form S‑3 registration statement.