AXT, Inc. Upgraded to NASDAQ Global Select Market
December 20 2010 - 9:30AM
Marketwired
AXT, Inc. (NASDAQ: AXTI), a leading manufacturer of compound
semiconductor substrates, today announced that the NASDAQ Stock
Market has upgraded the listing of the Company's securities to the
NASDAQ Global Select Market effective January 3, 2011.(1) The
Company's securities will continue to trade under the symbol
"AXTI."
The NASDAQ Global Select Market is one of three market tiers at
NASDAQ. According to NASDAQ, the NASDAQ Global Select Market
recognizes the highest financial listing standards in the world,
with measures including market value, liquidity and earnings, and
qualifying for the NASDAQ Global Select Market is a mark of
achievement, leadership, credibility and high ethical standards for
companies.
AXTI Chief Executive Officer Dr. Morris S. Young said, "Having
qualified for the NASDAQ Global Select Market is significant
validation of the Company and our Board's dedication to corporate
governance practices of the highest standard and integrity.
Inclusion in this market should increase our visibility in the
capital markets and further broaden our shareholder base."
About AXT, Inc. AXT designs, develops,
manufactures and distributes high-performance compound and single
element semiconductor substrates comprising gallium arsenide
(GaAs), indium phosphide (InP) and germanium (Ge) through its
manufacturing facilities in Beijing, China. In addition, AXT
maintains its sales, administration and customer service functions
at its headquarters in Fremont, California. The company's substrate
products are used primarily in lighting display applications,
wireless communications, fiber optic communications and solar cell.
Its vertical gradient freeze (VGF) technique for manufacturing
semiconductor substrates provides significant benefits over other
methods and enabled AXT to become a leading manufacturer of such
substrates. AXT has manufacturing facilities in China and invests
in five joint ventures producing raw materials. For more
information, see AXT's website at http://www.axt.com.
(1) Please note that inclusion in the Global Select Market is
contingent on the Company maintaining compliance with the continued
inclusion requirements for the Global Market through December 31,
2010.
Contacts: Raymond A. Low Chief Financial Officer (510) 683-5900
Leslie Green Green Communications Consulting, LLC (650)
312-9060
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