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AXT Inc. (NASDAQ:AXTI) is one of the 10 Stocks Besting Wall Street With Easy Double-Digit Gains.
AXT climbed to a fresh all-time high on Wednesday, as investors continued to load portfolios ahead of its earnings outcome next week, with optimism supported by the surging demand for semiconductors.
In intra-day trading, the stock climbed to as high as $90.07 before trimming gains to end the session just up by 15.97 percent at $86.94 apiece.
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AXT Inc. (NASDAQ:AXTI) is scheduled to announce the results of its earnings performance on April 30, 2026. A conference call will be held to elaborate on the results.
In other news, the company announced that it successfully raised $550 million in fresh funds from a follow-on offer, covering more than 8.56 million shares priced at $64.25 apiece.
In addition, AXT Inc. (NASDAQ:AXTI) granted its underwriters a 30-day option to purchase more than 1.28 million additional shares, which, if fully subscribed, would raise the total amount to $632.5 million.
Proceeds from the offer will be used to financially support its subsidiary, Beijing Tongmei Xtal Technology Co., Ltd. in its efforts to ramp up the production of indium phosphide substrates for export worldwide.
Meanwhile, AXT Inc. (NASDAQ:AXTI) said that the balance will be allocated for the research and development and improvement of products, as well as for working capital and other general corporate purposes.
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