Poet Technologies Announces Closing of US$15 Million Private Placement

Core Viewpoint - POET Technologies Inc. has successfully completed a non-brokered private placement, raising US$15 million through the issuance of 4 million common shares and accompanying warrants, aimed at enhancing its working capital and corporate purposes [1][2]. Group 1: Offering Details - The private placement involved the issuance of 4,000,000 common shares and warrants for an aggregate gross proceeds of US$15,000,000 [1]. - Each warrant is exercisable for up to 2,000,000 common shares at an exercise price of $5.00 (approximately C$6.78) per share, valid for five years from the issuance date [1]. - The combined price for one common share and one-half of a warrant was US$3.75 (approximately C$5.09) [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for working capital and general corporate purposes [2]. Group 3: Regulatory and Compliance Information - All shares and warrants were distributed to a purchaser outside of Canada, exempting them from a Canadian statutory hold period [3]. - The offering is subject to final acceptance by the TSX Venture Exchange [3]. Group 4: Company Overview - POET Technologies specializes in designing and developing high-speed optical engines, light source products, and custom optical modules for the AI systems market and hyperscale data centers [5]. - The company’s products leverage the POET Optical Interposer™, which integrates electronic and photonic devices into a single chip, offering lower costs, reduced power consumption, and scalability [5]. - POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore [5].