AXT closes $550 million follow-on common stock offering at $64.25 per share

AXT, Inc.

AXT, Inc.

AXTI

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  • AXT closed underwritten public offering of 8,560,311 common shares priced at USD 64.25 each.
  • Gross proceeds totaled about USD 550 million before fees.
  • Underwriter received 30-day option to buy up to 1,284,046 additional shares.
  • Full exercise of overallotment option would lift gross proceeds to about USD 632.5 million.
  • Net proceeds earmarked mainly to support Beijing Tongmei Xtal capacity expansion for indium phosphide substrates.


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