27 July 2011

AXT files with SEC for $60m stock offering

AXT Inc of Fremont, CA, USA, which manufactures gallium arsenide, indium phosphide and germanium substrates and raw materials, has filed a universal shelf registration statement on Form S-3 with the US Securities and Exchange Commission (SEC).

When declared effective by the SEC, it will give AXT the option to offer and sell, from time to time in one or more offerings, up to $60m of common stock, preferred stock, debt securities, warrants to purchase any of these securities, depository shares, units or any combination of such securities.

The timing of any offering will be at AXT’s discretion and will depend on many factors, including the prevailing market conditions. Specific terms and share prices of any future offering will be established at the time of any such offering, and will be described in a prospectus supplement that AXT will file with the SEC.

AXT intends to use the net proceeds of any sale of securities for general corporate purposes, which may include capital expenditures in connection with its planned expansion of manufacturing facilities in China.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.

A copy of the final prospectus and prospectus supplement relating to any offering under the registration statement will be filed with the SEC and can be obtained, when available, by contacting AXT’s Investor Relations Department.

See related items:

AXT’s Q1 revenue falls 8.6% to $24.6m

AXT’s Q4/2010 revenue of $26.9m up 51% year-on-year

AXT’s revenue rises 16% in Q3 to $26.8m

AXT’s profit doubles as revenue rises 25% in Q2 to $23.2m

AXT’s GaAs sales drive growth of 4.5% in Q1

Tags: AXT GaAs GaAs substrate InP Germanium

Visit: www.axt.com