AXT INC (AXTI) Form 8-K — Oct 28, 2026
$AXTIForm 8-KItems 1.01, 7.01, 9.01Filed Oct 28, 2026, 6:10 AM ET0001213900-26-113058Original filing
AXT announced definitive agreements for its majority-owned China subsidiary Tongmei to raise between approximately US$285 million and US$545 million from institutional investors led by BNK-B3 HK Holdings, a Hong Kong entity managed by a leading Asia asset manager. AXT is simultaneously committing roughly US$400 million to recapitalize Tongmei by subscribing for 342,998,797 ordinary shares. Assuming the maximum investment closes, AXT expects to retain control at approximately 73.40% ownership and continue consolidating Tongmei.
Key figures
- Deal Value Usd
- approximately US$545 million (maximum) / approximately US$285 million (minimum)
- Gross Proceeds
- RMB 1,912,350,000 to RMB 3,668,639,053.25 (approximately US$285 million to US$545 million)
- Qualified irr threshold
- 13% annual IRR
- Minimum closing deadline
- December 20, 2026
- Redemption applicable rate
- 8% compounded annually
- Axt new tongmei shares subscribed
- 342998797
- Axt recapitalization commitment usd
- 400000000
- Axt expected ownership after maximum
- 73.40%
- Designated investor closing deadline
- December 31, 2026
AI analysis
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