POET Technologies Announces US$10 Million Registered Direct Offering
TORONTO, July 19, 2024 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Corporation“) (TSXV: PTK; NASDAQ:POET), the designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets, is pleased to announce that it has completed a registered direct offering with a single institutional investor pursuant to which the Corporation issued 3,333,334 common shares (the “Common Shares“) and warrants exercisable to acquire 3,333,334 Common Shares (the “Warrants“) for aggregate gross proceeds of US$10,000,002 (the “Offering”). The combined price of one Common Share and accompanying Warrant in respect of one Common Share was US$3.00 (or approximately C$4.09). Each Warrant is exercisable to acquire one Common Share at an exercise price of US$4.00 (or approximately C$5.45) per Common Share for a period of five years from the date of issuance.