- POET Technologies (POET, Financial) announces a US$25 million non-brokered public offering, priced at a 21.8% premium.
- The offering will consist of 5 million units, each priced at US$5.00, involving a single Canadian institutional investor.
- Proceeds are earmarked for working capital and general corporate purposes, reinforcing POET's position in optical engines for AI systems.
POET Technologies Inc. (POET) has unveiled plans for a US$25 million non-brokered public offering consisting of 5,000,000 units priced at US$5.00 each. Notably, this offering price reflects a 21.8% premium over the company's latest closing share price, indicating robust investor confidence.
Each unit in the offering comprises one common share and one warrant, with the warrant exercisable at C$8.32 for a five-year period. The entire offering is anticipated to be subscribed by a single Canadian institutional investor, demonstrating strategic alignment and simplifying the execution process. The offering is expected to close on or around May 15, 2025, pending regulatory approvals and fulfillment of customary conditions.
The capital raised through this offering will bolster POET's cash position, earmarked for working capital and general corporate purposes. This strategic move is aligned with POET's recent acquisition of a 24.8% stake in Super Photonics Integrated Circuit Xiamen Co., Ltd. (SPX) and ongoing expansion in Malaysia. These developments underscore POET's commitment to enhancing its market presence in optical engines and light sources for cutting-edge AI networks and systems.
