AXT falls after filing for $87 million stock offering to certain investors

AXT

29/12/2025 13:26

** Shares of semiconductor parts maker AXT AXTI.O down 8% at $14.19 premarket

** Co files for common stock offering of 7.1 million shares at $12.25 apiece to certain institutional investors

** Offer price implies a 20.3% discount to stock's last close of $15.37

** AXTI expects gross proceeds of about $87 million, before other expenses

** Co intends to use net proceeds to primarily increase the capacity of subsidiary Beijing Tongmei Xtal Technology to produce indium phosphide substrates for export worldwide

** As of last close, stock up seven-fold YTD

 (Reporting by Koyena Das from Bengaluru)

 ((Koyena.das@thomsonreuters.com))