AXT signs long-term InP supply agreement with Lumentum; receives $87M in deposits

AXT INC

6-year capacity reservation agreement for indium phosphide wafer substrates through Dec 31, 2031.
Lumentum to pay AXT $43.5M initial deposit within 30 business days and a second $43.5M deposit in 2028.
Deposits applied as shipment credits; Lumentum must meet annual purchase commitments or pay shortfall.
AXT must deliver minimum annual capacity; failure to cure breach triggers refund of unapplied deposits.
Agreement may be renewed for additional one-year periods; modifications require written consent.

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