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AXT Announces Pricing of $87,000,000 Public Offering of Common Stock
FREMONT, Calif., December 29, 2025--AXT, Inc. (NasdaqGS: AXTI) ("AXT" or the "Company"), a leading manufacturer of compound semiconductor wafer substrates, announced today the pricing of an underwritten public offering of 7,098,492 shares of common stock at a price to the public of $12.25 per share. The gross proceeds from the offering to the Company are expected to be approximately $87 million, before deducting underwriting discounts and commissions and other offering expenses. In addition, the
About this update from Axt Inc
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":306,"url":"https://media.zenfs.com/en/business-wire.com/66f3b74f9dc9745f7612a97cbe48f8ae"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/DICNtquwZx9Lmh4o4GLh.A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTYxMjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/66f3b74f9dc9745f7612a97cbe48f8ae","width":480,"height":306}},"lazy":false},{"type":"text","content":"FREMONT, Calif., December 29, 2025--(BUSINESS WIRE)--AXT, Inc. (NasdaqGS: AXTI) ("AXT" or the "Company"), a leading manufacturer of compound semiconductor wafer substrates, announced today the pricing of an underwritten public offering of 7,098,492 shares of common stock at a price to the public of $12.25 per share. The gross proceeds from the offering to the Company are expected to be approximately $87 million, before deducting underwriting discounts and commissions and other offering expenses. In addition, the Company granted the underwriter a 30-day option to purchase up to 1,064,773 additional shares of common stock at the public offering price, less the underwriting discounts (the "Overallotment Option"). If the Overallotment Option is fully exercised, the Company expects to receive aggregate gross proceeds of approximately $100 million, before deducting underwriting discounts and commissions and other offering expenses. The offering is expected to close on or about December 30, 2025, subject to customary closing conditions.","length":1075,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds from the offering primarily to increase the manufacturing capacity of its subsidiary, Beijing Tongmei Xtal Technology Co., Ltd., to produce indium phosphide substrates for export worldwide in response to growing industry demand, for research and development of new or improved products, and for general corporate and working capital purposes.","length":386,"tagName":"p"},{"type":"text","content":"Northland Capital Markets is acting as sole bookrunner for this offering. Wedbush Securities Inc., and Craig-Hallum Capital Group LLC are acting as co-managers for this offering.","length":178,"tagName":"p"},{"type":"text","content":"A shelf registration statement on Form S-3 relating to t...