News: Suppliers
21 April 2026
AXT announces public offering
AXT Inc of Fremont, CA, USA — which makes gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge) substrates and raw materials at plants in China — intends to offer and sell shares of common stock in a public offering. In connection with the offering, the firm also expects to grant the underwriters a 30-day overallotment option to purchase up to an additional 15% of the shares offered in the public offering price, minus the underwriting discounts.
AXT notes that the offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
AXT intends to use the net proceeds from the offering primarily to financially support its subsidiary Beijing Tongmei Xtal Technology Co Ltd in its efforts to increase its capacity to produce indium phosphide substrates for export worldwide, for R&D on new or improved products, and for working capital and for general corporate purposes.
Northland Capital Markets is acting as sole bookrunner for the offering. Needham & Company, B. Riley Securities Inc, Craig-Hallum Capital Group LLC and Wedbush Securities Inc are acting as co-managers.
AXT’s Q4/2025 revenue constrained by delay in China export permits
AXT closes public offering of stock and full exercise of underwriters’ option
AXT’s Tongmei receives China export permits to resume shipping InP substrates to certain customers
