AXT, Inc. (NasdaqGS: AXTI) ("AXT" or the "Company"), a leading manufacturer of compound semiconductor wafer substrates, announced today that it intends to offer and sell shares of common stock in a public offering. In connection with the offering, the Company also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering price, less the underwriting discounts (the "Overallotment Option"). The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.