POET Technologies (US:POET) Globenewswire·2025-04-28 12:30Core Viewpoint - POET Technologies Inc. plans to conduct a non-brokered public offering of 5,000,000 units at a price of US$5.00 per unit, aiming for gross proceeds of US$25 million to support working capital and corporate purposes [1][2]. Group 1: Offering Details - Each unit consists of one common share and one common share purchase warrant, with the warrant exercisable at C$8.32 for five years [1]. - The offering price represents a premium of approximately 21.8% over the closing price of the common shares on April 25, 2025 [2]. - The offering will be made via a prospectus supplement and is expected to be fully subscribed by a single accredited institutional investor in Canada [3]. Group 2: Regulatory and Approval Aspects - The consummation of the offering is subject to regulatory approvals, including that of the TSX Venture Exchange [4]. - No commission or finder's fee will be paid in connection with the offering [4]. Group 3: Strategic Context - The current offering follows a postponed offering from December 2024, allowing the company to focus on completing its acquisition of a 24.8% interest in Super Photonics Integrated Circuit Xiamen Co., Ltd. and establishing manufacturing capabilities in Malaysia [5]. - With the acquisition complete and expansion underway, the offering aims to further establish the company as a leading supplier of optical engines and light sources for AI systems [5]. Group 4: Company Overview - POET Technologies specializes in high-speed optical engines and light source products for the AI systems market and hyperscale data centers, utilizing its patented POET Optical Interposer™ technology [7]. - The company's products are designed to be lower cost, consume less power, and are scalable for high production volumes, addressing bandwidth and latency challenges in AI systems [7].