AXT enters $22.3M prepaid supply deal with Coherent for 6-inch InP wafers

AXT INC

AXT subsidiary signs 3-year Master Development and Supply Agreement with Coherent for 6-inch InP wafer substrates.
Coherent provides $22,288,500 prepayment to AXT for capacity expansion at Beijing facility.
AXT commits to deliver agreed capacity; prepayment refundable if not fully applied, but nonrefundable if Coherent fails minimum order.
Coherent can terminate if AXT fails capacity commitment for 6+ months, with refund of unused prepayment.
Agreement includes customary confidentiality, force majeure, indemnification.

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