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POET Technologies Announces US$25 Million Offering Priced at a Premium to Market
Thursday, 12th December at 7:00 am
TORONTO, Dec. 12, 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, today announces its intention to complete a non-brokered public offering of 5,000,000 units of the Corporation (the "Units") at a price of US$5.00 (C$7.08) per Unit (the "Issue Price") for aggregate gross proceeds to the Corporation of US$25 million (the "Offering"). Each Unit will be comprised of one common share of the Corporation (each, a "Common Share") and one-half of one common share purchase warrant of the Corporation (each whole common share purchase warrant, a "Warrant"), with each Warrant being exercisable to acquire one Common Share at a price of US$6.00 (C$8.50) for a period of five years from the date of issuance.
The Issue Price represents a premium over the closing price of the Common Shares on the TSX Venture Exchange on Wednesday, December 11, 2024. The Corporation anticipates using the net proceeds of the Offering for working capital and general corporate purposes. It is anticipated that the Offering will close on or about December 19, 2024.
Thursday, 12th December at 7:00 am
TORONTO, Dec. 12, 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, today announces its intention to complete a non-brokered public offering of 5,000,000 units of the Corporation (the "Units") at a price of US$5.00 (C$7.08) per Unit (the "Issue Price") for aggregate gross proceeds to the Corporation of US$25 million (the "Offering"). Each Unit will be comprised of one common share of the Corporation (each, a "Common Share") and one-half of one common share purchase warrant of the Corporation (each whole common share purchase warrant, a "Warrant"), with each Warrant being exercisable to acquire one Common Share at a price of US$6.00 (C$8.50) for a period of five years from the date of issuance.
The Issue Price represents a premium over the closing price of the Common Shares on the TSX Venture Exchange on Wednesday, December 11, 2024. The Corporation anticipates using the net proceeds of the Offering for working capital and general corporate purposes. It is anticipated that the Offering will close on or about December 19, 2024.
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IPELove : what's this mean?
Jaguar8 OP IPELove : Dilution