Axt Inc - Current report filing (8-K)
December 18 2007 - 10:01AM
Edgar (US Regulatory)
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):
December 12,
2007
AXT, INC.
(Exact name of registrant as specified in its charter)
Delaware
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000-24085
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94-3031310
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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4281 Technology Drive
Fremont, California 94538
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code:
(510) 683-5900
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):
o
Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement
On December 12,
2007, AXT, Inc., (
AXT
or
the Company
) entered into two supply agreements (collectively
the
Agreements
) with IQE plc of Somerset,
New Jersey (
IQE
).
Under the terms of the Agreements, IQE shall purchase
from AXT a minimum of approximately $15.1 million of 4-inch and 6-inch semi-insulating
gallium arsenide (GaAs) substrates. IQE
has an option to purchase an additional $3.5 million of 6-inch substrates from
AXT under the Agreements. All substrates
ordered pursuant to the Agreements are to be shipped by the end of 2008.
The Agreements are filed
as
Exhibits 10.25
and
10.26
to this Form 8-K. As the Company has applied for confidential
treatment from the Securities and Exchange Commission with respect to certain
commercially sensitive pricing terms contained in the Agreements, such terms
have been redacted from
Exhibit 10.25
and
Exhibit 10.26
and have been
replaced by the symbol ***.
A copy of the press
release announcing this production order is attached hereto as
Exhibit 99.1
and is
incorporated herein by reference.
Item
1.02 Termination of a Material Definitive Agreement
On December 14,
2007, SBC&D Co., Inc., a California Corporation, dba South Bay
Development (the
Buyer
) elected
not to proceed with the purchase of the property and building at 4311 Solar Way
in Fremont, California. AXT and Buyer
had previously entered into a Purchase and Sale Agreement on October 22,
2007, pursuant to which AXT had agreed to sell to Buyer this property in return
for a cash payment of $5,650,000, subject to certain contingencies. This Purchase and Sale Agreement has been
terminated by Buyer.
Item 9.01 Financial Statements and Exhibits
(d)
Exhibits
10.25
6-inch Supply Agreement
dated December 12, 2007 between AXT, Inc. and IQE plc.*
10.26
4-inch Supply
Agreement dated December 12, 2007 between AXT, Inc. and IQE plc.*
99.1
Press Release
announcing entry into Supply Agreements with IQE dated December 18, 2007.
* Confidential treatment has been request of
the Securities and Exchange Commission for portions of this exhibit.
2
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.
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AXT, INC.
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Date: December 18,
2007
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By:
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/s/ WILSON W. CHEUNG
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Wilson W. Cheung
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Chief Financial Officer
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EXHIBIT INDEX
Exhibit
Number
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Description
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10.25
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6-inch Supply Agreement dated December 12, 2007
between AXT, Inc. and IQE plc.*
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10.26
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4-inch Supply Agreement dated December 12, 2007
between AXT, Inc. and IQE plc.*
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99.1
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Press Release announcing entry into Supply
Agreements with IQE dated December 18, 2007.
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* Confidential treatment has been request of the
Securities and Exchange Commission for portions of this exhibit.
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4
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