AXT Inc. announces common stock offering, no amount given

AXT announced that it intends to offer and sell shares of common stock in a public offering. The company 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 research and development of new or improved products, and for working capital and for general corporate purposes. Northland Capital Markets is acting as sole bookrunner for this offering. Needham & Company, B. Riley Securities, Craig-Hallum Capital Group and Wedbush Securities are acting as co-managers for this offering.

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