Fremont, California, December 29, 2025—AXT, Inc. (NasdaqGS: AXTI), a key player in manufacturing compound semiconductor wafer substrates, announced a public offering of 7,098,492 shares of its common stock at a price of $12.25 each. The company expects to net around $87 million from this offering, although this figure won’t include underwriting discounts and related costs. Moreover, there’s an option for underwriters to buy another 1,064,773 shares, which could bring the total to about $100 million if fully utilized. The closing is anticipated around December 30, 2025, pending standard closing conditions.
The funds raised will mainly support expanding manufacturing capabilities at Beijing Tongmei Crystal Technology Co., Ltd., enabling production of indium phosphide substrates for global markets. This is in response to rising industry demand, alongside boosting research and development for new or improved products, and fulfilling general corporate needs.
Northland Capital Markets is the lead bookrunner for this offering, while Wedbush Securities Inc. and Craig-Hallum Capital Group LLC are on board as co-managers.
A registration statement related to this offering was submitted to the Securities and Exchange Commission (SEC) on November 7, 2025, and was approved on November 27, 2025. The offering will be conducted according to a written prospectus and supplemental documents that are part of that registration statement. Interested parties can find the preliminary prospectus supplement on the SEC’s website. The final offering terms will also be detailed in forthcoming documents.
