NasdaqGS:AXTISemiconductor
A Look At AXT (AXTI) Valuation After Its Large Equity Raise For Indium Phosphide Growth
Why AXT’s latest equity raise matters for shareholders
AXT (AXTI) has just completed a follow on equity offering of roughly US$550 million, selling 8,560,311 common shares at US$64.25 each, with a per share discount of US$3.2125.
The capital is earmarked mainly for expanding indium phosphide substrate capacity at subsidiary Beijing Tongmei Xtal Technology, as well as research and development, working capital, and general corporate needs in the period leading up to AXT’s upcoming earnings...