Tongmei Equity Offering Targets Up to $545 Million

Tongmei and AXT agreed to a share investment by BNK-B3 HK Holdings and other institutional investors of at least RMB 1.912 billion (about $285 million) and up to RMB 3.669 billion (about $545 million), subject to closing conditions. AXT separately committed the RMB equivalent of $400 million to sub…