AXT

AXT, Inc. entered into a definitive agreement with Lumentum Operations, LLC for the supply and capacity reservation of indium phosphide wafer substrates through December 31, 2031. Lumentum will pay an initial deposit of $43.5 million and a second deposit of $43.5 million.

AXT completed the purchase of a new manufacturing facility in Dingxing, Hebei, China, with 140,000 sq. ft. of manufacturing space and 50,000 sq. ft. for offices and dormitories. The company plans a staged relocation of its GaAs equipment and personnel throughout 2017 and 2018, with initial qualification substrates expected in Q4 2017.