2 March 2017

AXT announces proposed public offering

AXT Inc of Fremont, CA, USA – which makes gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge) substrates and raw materials – says that it intends to offer and sell shares of its common stock in an underwritten public offering. However, it adds that the offering is subject to market and other conditions and that there can be no assurance regarding whether or when the offering may be completed, or its actual size or terms.

AXT intends to use the net proceeds for general corporate purposes, which may include the relocation of its gallium arsenide (GaAs) product line, working capital, capital expenditures and other corporate expenses.

A shelf registration statement relating to the shares of common stock was previously filed with the Securities and Exchange Commission (SEC) and declared effective on 4 November 2016. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on its website. Copies of the preliminary prospectus supplement (when available) and accompanying prospectus may be obtained from the sole book-running manager, Needham & Company LLC.

See related items:

AXT's Q4 revenue up 12% year-on-year to a higher-than-expected $20.3m

Tags: AXT GaAs substrate InP Germanium

Visit: www.axt.com