SCHEDULE 13G/A: Cleveland Capital Entities Update Beneficial Ownership in AXT, Inc. to 6.9%

Cleveland Capital Management, L.L.C., Cleveland Capital, L.P., Wade Massad, and John Shiry have filed an amended Schedule 13G, disclosing their collective beneficial ownership of up to 6.9% of AXT, Inc.'s common stock as of March 31, 2025.

Summary

• Cleveland Capital Management, L.L.C., Cleveland Capital, L.P., Wade Massad, and John Shiry filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership of AXT, Inc. Common Stock.
• As of March 31, 2025, Wade Massad beneficially owns an aggregate of 3,161,000 shares of AXT, Inc. common stock, representing 6.9% of the class.
• Cleveland Capital Management, L.L.C., Cleveland Capital, L.P., and John Shiry each beneficially own 3,050,000 shares, representing 6.7% of AXT, Inc.'s common stock.
• Wade Massad holds sole voting and dispositive power over 111,000 shares, and shared voting and dispositive power over 3,050,000 shares.
• Cleveland Capital Management, L.L.C., Cleveland Capital, L.P., and John Shiry each hold shared voting and dispositive power over 3,050,000 shares.
• The reporting persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of AXT, Inc., other than activities solely in connection with a nomination under Rule 14a-11.
• All reported securities are owned by an advisory client of Cleveland Capital Management, L.L.C., and by one of its control persons.
• Wade Massad and John Shiry are identified as control persons of Cleveland Capital Management, L.L.C.

Sentiment

Score: 5

Explanation: The document is a factual, legally mandated disclosure of beneficial ownership and does not contain information that inherently indicates a positive or negative sentiment for the issuer or its stock.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of beneficial ownership by an investment group and its principals, providing transparency into significant shareholder stakes in AXT, Inc. It does not provide broader industry trends or competitive analysis.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership and the passive nature of this stake, which may offer some stability or confidence in the shareholder base.

Key Dates

Keywords

AXT Inc., Beneficial Ownership, Schedule 13G, Cleveland Capital Management, Cleveland Capital, Wade Massad, John Shiry, Common Stock, Institutional Ownership, SEC Filing