{"filing":{"accession_number":"0001437749-26-022984","cik":"0001051627","ticker":"AXTI","company_name":"AXT INC","form":"8-K","filing_date":"2026-07-08","report_date":null,"primary_document":"axti20260629_8k.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/1051627/000143774926022984/axti20260629_8k.htm"},"events":[{"id":16636,"run_id":14868,"accession_number":"0001437749-26-022984","anchor_item_number":"2.04","event_type":"covenant_breach","event_domain":"financial","is_material":true,"confidence":0.75,"summary":"The withdrawal of Tongmei's STAR Market IPO application triggered redemption rights held by eleven private equity funds that invested RMB 324.4 million (~$49 million). The filing explicitly states this withdrawal \"gives rise to a redemption right\" under the fund agreements, creating a direct financial obligation that can be accelerated at the funds' discretion. While the Company states it has sufficient funds to cover full redemption, the triggering event (IPO withdrawal) and the contingent but material obligation (up to ~$49 million in potential redemptions) fit the covenant_breach category as a triggering event that accelerates or increases a direct financial obligation.","company_name":"AXT INC","ticker":"AXTI","filing_date":"2026-07-08","form":"8-K","submitted_at":null,"items":[{"id":14796,"accession_number":"0001437749-26-022984","item_number":"2.04","item_title":"Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.","event_type":"covenant_breach","event_domain":"financial","is_material":true,"confidence":0.75,"reasoning":"The withdrawal of Tongmei's STAR Market IPO application triggered redemption rights held by eleven private equity funds that invested RMB 324.4 million (~$49 million). The filing explicitly states this withdrawal \"gives rise to a redemption right\" under the fund agreements, creating a direct financial obligation that can be accelerated at the funds' discretion. While the Company states it has sufficient funds to cover full redemption, the triggering event (IPO withdrawal) and the contingent but material obligation (up to ~$49 million in potential redemptions) fit the covenant_breach category as a triggering event that accelerates or increases a direct financial obligation.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-08T13:30:37.188903+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":14796,"accession_number":"0001437749-26-022984","item_number":"2.04","item_title":"Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.","event_type":"covenant_breach","event_domain":"financial","is_material":true,"confidence":0.75,"reasoning":"The withdrawal of Tongmei's STAR Market IPO application triggered redemption rights held by eleven private equity funds that invested RMB 324.4 million (~$49 million). The filing explicitly states this withdrawal \"gives rise to a redemption right\" under the fund agreements, creating a direct financial obligation that can be accelerated at the funds' discretion. While the Company states it has sufficient funds to cover full redemption, the triggering event (IPO withdrawal) and the contingent but material obligation (up to ~$49 million in potential redemptions) fit the covenant_breach category as a triggering event that accelerates or increases a direct financial obligation.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-08T13:30:37.188903+00:00","company_name":"AXT INC","ticker":"AXTI","filing_date":"2026-07-08"}]}