AXT, Inc.

AXT, Inc.'s (AXTI) majority-controlled subsidiary Tongmei Xtal Technology withdrew its STAR Market IPO application on June 26, 2026 (accepted by the Shanghai Stock Exchange on July 8, 2026), triggering redemption rights for 11 Chinese private equity funds that invested an aggregate RMB 324,404,508 (~$49 million USD) in connection with the STAR Market listing process. AXT/Tongmei will now pursue a Hong Kong Stock Exchange listing emphasizing the indium phosphide (InP) business for AI data center applications rather than the GaAs focus of the STAR application. The ~$49M potential redemption obligation is a material contingent liability now triggered, though each fund retains discretion over whether to exercise its right.

AXT-Tongmei (AXT subsidiary) and Coherent Corp entered a Master Development and Supply Agreement effective June 25, 2026 for 6-inch indium phosphide wafer substrates over an initial 3-year term. AXT committed to expand manufacturing capacity at its Beijing facility through 2028 with committed delivery schedules. This is a material, long-duration supply contract validating AXT's InP substrate business with a major photonics customer.

Tracy Liu filed a Form 3 as a newly appointed director of AXT Inc. (AXTI), disclosing initial beneficial ownership of 3,226 shares — 2,500 restricted shares and 726 shares from a prorated annual equity grant, both vesting May 14, 2027 subject to continuous service. The reporting event date was June 17, 2026. This is routine Section 16 initialization following a board appointment; the position size is immaterial to the share count but satisfies disclosure requirements.

AXT, Inc. expanded its Board of Directors from four to five members on June 17, 2026 by electing Tracy D. Liu as a Class II independent director (term expires at the 2028 annual meeting). Liu has over 30 years of tax and accounting advisory experience, currently serves as CEO of HM CPA Services P.C. and has chaired ACM Research's audit committee since 2016. She will serve on AXT's audit, compensation, and nominating/governance committees, and will receive an initial grant of 2,500 restricted shares plus a prorated 726-share annual equity grant, both vesting May 14, 2027. Routine board expansion for a compound semiconductor substrate manufacturer.

AXT, Inc. filed an 8-K (Item 1.01) dated June 11, 2026, reporting entry into a material definitive agreement. The excerpt is limited to cover-page boilerplate; no specific deal terms, counterparty, or dollar amounts are disclosed in the available text. This filing warrants monitoring as a material contract event, though the significance cannot be assessed from the excerpt alone.

AXT Inc. held its 2026 Annual Meeting on June 4, 2026 (56,944,925 shares outstanding; ~52% quorum). Two Class I directors were elected for three-year terms: Dr. Morris Young received 98.26% approval (18,418,094 for, 326,349 withheld); the second nominee's name is truncated in the excerpt. Stockholders approved an amendment increasing authorized common stock from 70,000,000 to 120,000,000 shares, effective upon Delaware filing. The 50 million share authorized increase provides AXT with meaningful additional capacity for future equity issuances, representing dilutive headroom rather than immediate dilution.

AXTI filed a 424B5 prospectus supplement dated 2026-04-21, representing an active capital markets transaction. Offering size: approximately $0.9 million. Priced at $78.76 per share. This represents immediate dilution to existing shareholders.

AXTI entered into a underwriting agreement (8-K Item 1.01, dated 2026-04-21). Counterparty: Northland Securities, Inc.. Material definitive agreement — investors should review the full exhibit for covenants, conditions, and use of proceeds.