AXT (AXTI) is trading 4.4% up at $38.60 in pre-market after announcing an $87 million long-term supply agreement with Lumentum for indium phosphide wafer substrates. - The deal includes two deposits of $43.5 million each from Lumentum, securing AXT's annual capacity through 2031 and providing significant capital. - This development follows a bylaw amendment approved on July 26, 2026, which lowered the quorum requirement for shareholder meetings, potentially easing governance concerns.