POET Technologies Announces US$25 Million Offering
TORONTO, July 07, 2025 (GLOBE NEWSWIRE) -- POET Technologies Inc. ("POET" or the "Corporation") (TSXV: PTK; NASDAQ: POET), a leader in the design and implementation of highly-integrated optical engines and light sources for artificial intelligence networks 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 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 common share purchase warrant of the Corporation (each, a "Warrant"), with each Warrant being exercisable to acquire one Common Share at a price of C$8.16 for a period of five years from the date of issuance.
The Issue Price represents a discount of approximately 12.0% from the closing price of the Common Shares on the TSX Venture Exchange on Friday, July 4, 2025. The Corporation anticipates using the net proceeds of the Offering for working capital and general corporate purposes.
The Offering will be made by way of a prospectus supplement (the "Prospectus Supplement") to the short form base shelf prospectus of the Corporation dated September 6, 2024, which Prospectus Supplement will be prepared and filed by the Corporation prior to the closing of the Offering with the securities regulatory authorities in each of the provinces and territories of Canada, as well as with the U.S. Securities and Exchange Commission as part of the Corporation's U.S. registration statement on Form F-10 ("Form F-10") (Registration No. 333-280553) under the U.S.-Canada Multijurisdictional Disclosure System, with such additions thereto and deletions therefrom as may be permitted or required by Form F-10. The Offering is expected to be fully subscribed by a single institutional investor in Canada that qualifies as an "accredited investor" under National Instrument 45-106 – Prospectus Exemptions of the Canadian Securities Administrators.
The consummation of the Offering remains subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange (the "Exchange"), and the satisfaction of other customary closing conditions. No commission or finder's fee will be paid in connection with the Offering.
“We are very fortunate to have had strong interest from institutional, strategic and public market investors over the past 15 months, due largely to a compelling value proposition that combines key technical and commercial achievements with a vast market opportunity, rewarding innovative hardware solutions in Artificial Intelligence networks and systems,” said Thomas Mika, Executive Vice President and Chief Financial Officer of POET. “We have raised over US$100 million in equity capital at increasingly higher prices over the past year and have thereby achieved all of our near-term financing goals for the Corporation.”
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. |
