POET Technologies Announces Closing of US$150 Million Oversubscribed Registered Direct Offering of Common Shares

Core Viewpoint - POET Technologies Inc. has successfully closed a registered direct offering of 20,689,655 common shares, generating gross proceeds of approximately US$150 million, aimed at enhancing corporate development and scaling operations in the photonics sector [1][2][6]. Group 1: Offering Details - The offering was fully subscribed by two new fundamental investment managers, indicating strong interest and confidence in the company's growth potential [2][6]. - The gross proceeds from the offering will be utilized for corporate development, including targeted acquisitions, scaling up R&D, accelerating the light source business, and expanding operations [2][6]. Group 2: Company Overview - POET Technologies specializes in designing and developing high-speed optical engines, light source products, and custom optical modules for the artificial intelligence systems market and hyperscale data centers [5]. - The company's proprietary POET Optical Interposer™ platform allows for the integration of electronic and photonic devices into a single chip, offering advantages such as lower costs, reduced power consumption, and scalability for high production volumes [5]. - POET's product offerings include high-speed optical engines and novel light source products aimed at addressing bandwidth and latency challenges in AI systems [5]. Group 3: Financial Position - Following the closing of the offering, the company's pro-forma cash position exceeds US$300 million, positioning it well for future growth initiatives [6].