TORONTO, July 17, 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, is pleased to announce that it has completed its previously announced non-brokered public offering of an aggregate 5,000,000 units of the Corporation (the "Units") at a price of US$5.00 per Unit for aggregate gross proceeds to the Corporation of US$25,00 ...

Core 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 total gross proceeds of US$25 million, to be used for working capital and general corporate purposes [1][2]. Offering Details - Each unit consists of one common share and one common share purchase warrant, with the warrant exercisable at C$8.16 for five years [1]. - The issue price reflects a discount of approximately 12.0% from the closing price on July 4, 2025 [2]. - The offering will be made via a prospectus supplement to the existing short form base shelf prospectus, and is expected to be fully subscribed by a single accredited institutional investor in Canada [3]. Regulatory and Closing Conditions - The offering is subject to regulatory approvals, including from the TSX Venture Exchange, and other customary closing conditions [4]. - No commissions or finder's fees will be paid in connection with the offering [4]. Company Background - POET Technologies specializes in high-speed optical engines and light source products for artificial intelligence systems and hyperscale data centers, utilizing its patented POET Optical Interposer™ technology [6]. - The company's products are designed to be lower cost, consume less power, and are scalable for high production volumes, addressing bandwidth and latency issues in AI systems [6].

Core Points - POET Technologies Inc. held its Annual General and Special Meeting (AGSM) virtually on June 27, 2025, where shareholders approved all proposals outlined in the management information circular [1][2][5] Group 1: Meeting Overview - The meeting included a video presentation showcasing the transformation of the company's operations, followed by a presentation from CEO Dr. Suresh Venkatesan on the company's 2024 activities and near-term opportunities [3][4] Group 2: Voting Results - Shareholders elected all nominees as directors, with Glen Riley receiving 94.43% of votes, Jean-Louis Malinge 95.86%, Robert "Bob" Tirva 95.64%, Suresh Venkatesan 96.92%, and Theresa Lan Ende 95.39% [6] - Davidson & Company LLP was appointed as auditors with 96% approval from shareholders [7] - The Omnibus Equity Incentive Plan was approved by 84% of votes, increasing the number of awards to 17,007,771, which is 20% of the 85,022,787 common shares issued at the time of the meeting [7][9] Group 3: Restricted Stock Units - Following the AGSM, the Board of Directors granted a total of 72,340 Restricted Stock Units (RSUs) to directors, vesting on the first anniversary of the grant, based on a share price of CAD$7.23 [10]

Core Insights - POET Technologies Inc. has won the "AI Hardware Innovation Award" at the 8th annual AI Breakthrough Awards for its Teralight line of optical engines, marking the second consecutive year of recognition for the company [1][4] - The Teralight optical engines are designed for AI and hyperscale data-center connectivity, showcasing significant advancements in performance and efficiency [1][2] Company Overview - POET Technologies specializes in the design and development of Photonic Integrated Circuits (PICs), light sources, and optical modules targeted at the AI and data center markets [1][7] - The company utilizes a patented platform called the POET Optical Interposer™, which integrates electronic and photonic devices into a single chip, resulting in lower costs, reduced power consumption, and smaller size compared to traditional products [7][8] Product Features - The Teralight optical engine features a chip-scale design produced entirely at wafer level, consisting of a 1.6T transmit and receive optical engine, each measuring approximately 12x12 mm [2] - The transmit optical engine incorporates 2x200G EML lasers, allowing for a 1.6T engine with only four laser chips, significantly reducing the number of components compared to conventional designs [3] Market Impact - The AI Breakthrough Awards received over 5,000 nominations from more than 20 countries, highlighting the competitive landscape and the importance of AI technology in the 21st century [4] - POET's recognition in this prestigious awards program underscores its position as a leader in optical-engine design, emphasizing the product's scalability, ease of adoption, and performance [5][6]

Core Points - POET Technologies Inc. has completed a non-brokered private placement with a strategic investor, issuing 6,000,000 common shares and one common share purchase warrant, raising aggregate gross proceeds of US$30,000,000 [1][2] - The offering price for one common share and the warrant was set at US$5.00, with the warrant exercisable until May 22, 2030, at an exercise price of C$8.32 per share [1] - The net proceeds from the offering will be utilized for working capital and general corporate purposes [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 products are based on the POET Optical Interposer™, which integrates electronic and photonic devices into a single chip, offering lower costs, reduced power consumption, and scalability for high production volumes [5] - POET's offerings include optical engines and modules for AI clusters and hyperscale data centers, as well as novel light source products aimed at improving chip-to-chip data communication [5]

Core Viewpoint - POET Technologies Inc. is amending its previously announced non-brokered public offering to increase the offering size to US$30 million in response to significant interest from a strategic investor [1][3] Group 1: Offering Details - The revised offering will consist of 6,000,000 common shares and one common share purchase warrant, which is exercisable for an additional 6,000,000 common shares at a price of C$8.32 per share for five years [2] - The combined price for one common share and the warrant will be US$5.00 [2] - The offering is expected to be completed around May 22, 2025 [3] Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for working capital and general corporate purposes [3] Group 3: Regulatory and Distribution Information - All common shares and warrants issued will be distributed outside of Canada, not subject to a Canadian statutory hold period [4] - The offering is subject to final acceptance by the TSX Venture Exchange [4] Group 4: Company Overview - POET Technologies Inc. specializes in high-speed optical engines, light source products, and custom optical modules for the AI systems market and hyperscale data centers [6] - The company’s products are based on the POET Optical Interposer™, which integrates electronic and photonic devices into a single chip, offering lower costs, reduced power consumption, and scalability [6] - POET is headquartered in Toronto, Canada, with operations in Singapore, Penang, Malaysia, and Shenzhen, China [6]

Core Insights - POET Technologies Inc. reported significant financial improvements in Q1 2025, including a net income of $6.3 million compared to a net loss of $5.7 million in Q1 2024 [5][10] - The company is focusing on technology innovation, commercial progress, and strategic partnerships to drive revenue growth in the second half of 2025 [2][4] Financial Performance - The company achieved non-recurring engineering and product revenue of $166,760 in Q1 2025, a substantial increase from $8,710 in Q1 2024 and $29,032 in Q4 2024 [4][13] - Research and development costs rose to $4.3 million in Q1 2025 from $1.9 million in Q1 2024, reflecting the transition from technology development to product development [5][13] - A significant non-cash gain of $15.4 million from fair value adjustments to derivative warrant liability was recorded in Q1 2025, compared to a loss of $630,000 in Q1 2024 [6][13] Business Highlights - The company opened a 10,000 square foot clean room in Malaysia to enhance production capacity for AI and cloud data center customers [2] - POET shipped final design samples of its POET Infinity transmit product line for 400G and 800G applications to major technology leaders [8] - The company partnered with Lessengers to offer an 800G DR8 transceiver, enhancing its product offerings in the optical solutions market [8] Cash Flow and Other Income - Cash flow from operating activities was negative $8.9 million in Q1 2025, compared to negative $4.6 million in Q1 2024 [10] - The company recognized other income, including interest of $528,000 in Q1 2025, up from $52,000 in Q1 2024 [9][13]

Core Insights - POET Technologies Inc. has appointed Dr. Ghazi M. Chaoui as Senior Vice President of Global Manufacturing and Digital Transformation to enhance its manufacturing capabilities in Malaysia [1][2] - The company has established POET Technologies Sdn. Bhd. as a wholly owned subsidiary in Malaysia, with full production capacity expected to be operational this quarter [3][4] - POET focuses on high-speed optical modules and engines for AI systems and hyperscale data centers, utilizing its patented Optical Interposer technology for efficient integration of electronic and photonic devices [4] Company Developments - Dr. Chaoui brings nearly 40 years of experience in manufacturing and supply chain management, having held key roles in various technology companies [2][3] - The company aims to meet the high demand for 800G and 1.6T transceivers required by hyperscalers and AI cluster operators [2] - POET's manufacturing operations in Penang, Malaysia, are set to enhance the company's ability to deliver optical engines to customers efficiently [3][4] Technology and Market Position - POET's Optical Interposer platform allows for lower-cost, lower-power, and smaller-sized optical products that are scalable to high production volumes [4] - The company is positioned to address bandwidth and latency challenges in AI systems through its novel light source products for chip-to-chip communication [4] - POET's technology also addresses integration challenges in 5G networks and various applications such as autonomous vehicle sensing [4]

Core 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].

TORONTO, April 02, 2025 (GLOBE NEWSWIRE) -- POET Technologies Inc. ("POET" or the "Company") (TSXV:PTK, NASDAQ:POET), a leader in the design and implementation of highly-integrated optical engines and light sources for artificial intelligence networks, today announced it has partnered with Lessengers, an innovative optical solution provider based in South Korea, to offer a differentiated 800G DR8 transceiver. The transceiver will include POET's transmit and receive optical engines and Lessenger's "Direct Op ...