AXT (NASDAQ: AXTI) unit secures $25.4M prepaid wafer deal

Rhea-AI Filing Summary

AXT, Inc., through its subsidiary Beijing Tongmei Xtal Technology Co., Ltd., entered into a long‑term supply agreement with Nanjing Casela Technologies Corporation, Ltd. for indium phosphide wafer substrates for the 2027 calendar year.

Casela has a binding commitment to purchase a fixed aggregate quantity of InP wafers for a total price of RMB 173,000,000 (approximately US $25.4 million), with deliveries scheduled monthly. Casela must prepay 50% of the total price within 15 business days after signing, with the remaining 50% due on or before December 31, 2026.

Casela is required to purchase at least 80% of the committed quantity or pay a cancellation fee on the shortfall. If Casela’s demand exceeds the committed quantity, Tongmei will, subject to available capacity and on terms no less favorable than those for similarly situated customers, prioritize the additional demand under supplemental terms. Fundamental breaches such as order cancellation, failure to take delivery, extended payment delinquency, or missing the 80% threshold allow Tongmei to terminate the agreement and retain amounts already paid.

Insights

Semiconductor supply-chain analyst

AXT secures a prepaid 2027 InP wafer order from Casela with volume and minimum-purchase protections.

The agreement commits Casela to buy a fixed aggregate quantity of indium phosphide wafer substrates from Tongmei in 2027 for RMB 173,000,000 (about $25.4 million). Monthly deliveries and a large prepayment create predictable demand for this product line.

Structurally, the contract includes a 50% prepayment within 15 business days of signing and the remaining 50% due by December 31, 2026, improving near-term cash visibility for Tongmei. An 80% minimum-purchase obligation, cancellation fees on any shortfall, and the ability to terminate for fundamental breaches while retaining prior payments all limit downside if Casela underperforms its commitments.

Tongmei also agrees, subject to capacity and on terms no less favorable than those offered to similarly situated customers, to prioritize any Casela demand above the committed quantity, with pricing to be set in supplemental agreements. Future disclosures in company filings may provide more detail on execution, margins, and the relative scale of this contract within AXT’s overall revenue base.

8-K Event Classification

2 items: 1.01, 9.01

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

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Available on EDGAR 06/17/2026 - 04:16 PM Accepted by SEC EDGAR 06/17/2026 - 04:15 PM Learn about SEC filing dates

false 0001051627 0001051627 2026-06-11 2026-06-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 11, 2026

AXT, INC.

(Exact name of registrant as specified in its charter)

	Delaware		000-24085		94-3031310
	(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

4281 Technology Drive

Fremont, California 94538

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (510) 438-4700

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:		Trading Symbol		Name of each exchange on which registered:
Common Stock, $0.001 par value		AXTI		The NASDAQ Stock Market LLC

Item 1.01 Entry into a Material Definitive Agreement.

On June 11, 2026, Beijing Tongmei Xtal Technology Co., Ltd. (“Tongmei”), the subsidiary of AXT, Inc., a Delaware corporation, entered into a Long-term Supply Agreement (the “Agreement”) with Nanjing Casela Technologies Corporation, Ltd. (“Casela”). The Agreement establishes an arrangement under which Tongmei reserves production capacity and raw-material allocation for, and grants supply priority to, Casela in exchange for Caela’s binding commitment to purchase a fixed aggregate quantity of indium phosphide (“InP”) wafer substrates from Tongmei during the period from January 1, 2027 through December 31, 2027.

During the year 2027, Casela is committed to purchase an agreed upon quantity of InP substrate wafers for a total price of RMB 173,000,000 (approximately US $25.4 million), to be delivered on a monthly schedule. Casela is required to pay 50% of the total purchase price as a prepayment within 15 business days after entry into the Agreement, with the remaining 50% due on or before December 31, 2026. Casela is required to purchase at least 80% of the fixed aggregate quantity of InP wafer substrates and if purchases fall below 80%, Casela must pay a cancellation fee for the unpurchased quantity.

To the extent Casela’s demand during the term exceeds the committed quantity, Tongmei has agreed, subject to available capacity and on terms no less favorable than those offered to similarly situated customers, to prioritize Casela’s excess demand. The pricing and other terms applicable to any such excess supplies will be set forth in a supplemental agreement.

Order cancellation, Casela's failure to take possession of goods made available for delivery, payment delinquency exceeding 30 days or failure to reach the 80% purchase threshold each constitute a fundamental breach, upon which Tongmei may, in its sole discretion, terminate the Agreement and retain all amounts previously paid by Caseal.

The Agreement contains customary provisions regarding delivery-schedule changes, pricing, product warranty, remedies for breach and dispute resolution.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the Long-term Supply Agreement, an English translation of which will be filed as an exhibit to our quarterly report on Form 10-Q for the period ended June 30, 2026.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
104		Cover Page Interactive Data File (formatted as inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AXT, INC.
	By:	/s/ Gary L. Fischer
Date: June 17, 2026		Gary L. Fischer
		Chief Financial Officer and Corporate Secretary

Filing Exhibits & Attachments

4 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.3 KB