AXT prices $550M public offering of 8.56M shares at $64.25; proceeds for InP capacity expansion

AXT INC

Public offering of 8,560,311 shares at $64.25/share for ~$550M gross; underwriters have 30-day option for up to 1,284,046 additional shares.
Net proceeds primarily to support Beijing Tongmei Xtal Technology's indium phosphide substrate capacity expansion for export, plus R&D and working capital.
Closing expected April 22, 2026; lock-up agreements for executives and directors for 60 days after prospectus supplement.
Northland Securities sole bookrunner; Needham, B. Riley, Craig-Hallum, Wedbush as co-managers.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AXT INC entered into Underwriting Agreement with Northland Securities, Inc., as representative of the underwriters named therein valued at approximately $550 million (effective 2026-04-21).

Action: entry
Agreement: underwriting
Counterparty: Northland Securities, Inc., as representative of the underwriters named therein
Value: approximately $550 million
Effective: 2026-04-21

Exact text from the filing

On April 21, 2026, AXT, Inc., a Delaware corporation (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Northland Securities, Inc., as representative of the underwriters named therein (the “Underwriters”) related to the offer and sale of shares of the Company’s common stock (the “Offering”).

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AXT INC filing history →

Source: SEC EDGAR

accession 0001213900-26-045867

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