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Note 20 - Subsequent Events
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Subsequent Events [Text Block]

Note 20. Subsequent Events

 

On July 8, 2026, the STAR Market accepted Tongmei’s withdrawal of its IPO application, triggering redemption rights under the applicable Capital Investment Agreements. If all investors exercise their redemption rights in full, the aggregate redemption amount would be approximately $49 million. The withdrawal may also result in the recognition of some or all of the deferred offering expenses associated with the STAR Market listing application and IPO.

 

On July 23, 2026, the Company entered into an agreement with Beijing Bomeilian Special Ceramics Co., Ltd., a related party controlled by Dr. He, the general manager of BoYu, to acquire approximately 0.58% of Tongmei's outstanding shares for approximately $6 million. The transaction had not closed as of the date these financial statements were issued.

 

On July 26, 2026, we entered into a six-year capacity reservation agreement with a customer for the supply of InP wafer substrates. In consideration for the reserved product capacity, the customer agreed to pay us two deposits of $43.5 million each, which will be applied as shipment credits toward future purchases; the initial deposit is due within 30 business days after entry into the agreement, and the timing and terms of the second deposit will be determined during 2028.