POET Technologies Announces US$10 Million Registered Direct Offering
POET Technologies Inc. (NASDAQ: POET) has completed a US$10 million registered direct offering with a single institutional investor. The offering included 3,333,334 common shares and warrants to acquire an equal number of shares at US$3.00 per unit. Each warrant is exercisable at US$4.00 per share for five years. POET is experiencing strong demand for its optical engine technology used in 800G and 1.6T speed optical modules for AI processing clusters. The company plans to use the proceeds for working capital and general corporate purposes. No commission or finder's fee was paid, and no underwriter was engaged. The offering was made under an effective shelf registration statement and is subject to TSX Venture Exchange final acceptance.
POET Technologies Inc. (NASDAQ: POET) ha completato un emissione diretta registrata da 10 milioni di dollari con un singolo investitore istituzionale. L'emissione ha incluso 3.333.334 azioni ordinarie e warrant per acquisire un numero equivalente di azioni a 3,00 dollari per unità. Ogni warrant è esercitabile a 4,00 dollari per azione per cinque anni. POET sta riscontrando una forte domanda per la sua tecnologia di motore ottico utilizzata in moduli ottici per velocità di 800G e 1,6T per cluster di elaborazione AI. La società prevede di utilizzare i proventi per il capitale circolante e scopi aziendali generali. Non è stata pagata alcuna commissione o compenso per mediatore, né è stato coinvolto alcun sottoscrittore. L'emissione è stata effettuata ai sensi di una dichiarazione di registrazione a scaffale efficace ed è soggetta all'accettazione finale del TSX Venture Exchange.
POET Technologies Inc. (NASDAQ: POET) ha completado una oferta directa registrada de US$10 millones con un único inversor institucional. La oferta incluyó 3,333,334 acciones comunes y opciones para adquirir un número igual de acciones a US$3.00 por unidad. Cada opción es ejercitable a US$4.00 por acción durante cinco años. POET está experimentando una fuerte demanda de su tecnología de motor óptico utilizada en módulos ópticos de 800G y 1.6T para clústeres de procesamiento de IA. La compañía planea utilizar los ingresos para capital de trabajo y fines corporativos generales. No se pagó ninguna comisión ni tarifa de intermediación, y no se contrató a ningún suscriptor. La oferta se realizó bajo una declaración de registro de estante efectiva y está sujeta a la aceptación final del TSX Venture Exchange.
POET Technologies Inc. (NASDAQ: POET)는 단일 기관 투자자와 함께 1000만 달러의 등록 직접 제공을 완료했습니다. 이 제공에는 3,333,334주 보통주와 동일한 수의 주식을 구매할 수 있는 워런트가 포함되어 있으며, 단위당 3.00달러로 제공됩니다. 각 워런트는 5년 동안 주당 4.00달러에 행사 가능합니다. POET는 AI 처리 클러스터를 위한 800G 및 1.6T 속도의 광 모듈에 사용되는 광학 엔진 기술에 대한 강한 수요를 경험하고 있습니다. 회사는 수익금을 운영 자금 및 일반 회사 용도로 사용할 계획입니다. 수수료나 중개 수수료는 지급되지 않았으며, 인수인은 참여하지 않았습니다. 이 제공은 유효한 선반 등록 성명서에 따라 이루어졌으며, TSX 벤처 거래소의 최종 승인을 받아야 합니다.
POET Technologies Inc. (NASDAQ: POET) a terminé une offre directe enregistrée de 10 millions de dollars avec un investisseur institutionnel unique. L'offre comprenait 3 333 334 actions ordinaires et des bons d'option pour acquérir un nombre égal d'actions à 3,00 dollars par unité. Chaque bon est exerçable à 4,00 dollars par action pendant cinq ans. POET connaît une forte demande pour sa technologie de moteur optique utilisée dans des modules optiques à vitesses de 800G et 1,6T pour des clusters de traitement AI. La société prévoit d'utiliser le produit pour le fonds de roulement et des fins d'entreprise générale. Aucune commission ou frais d'intermédiaire n'ont été payés, et aucun souscripteur n'a été engagé. L'offre a été faite sous une déclaration d'enregistrement à portée effective et est soumise à l'acceptation finale de la Bourse de croissance TSX.
POET Technologies Inc. (NASDAQ: POET) hat ein registriertes Direktangebot über 10 Millionen US-Dollar mit einem einzigen institutionellen Investor abgeschlossen. Das Angebot umfasste 3.333.334 Stammaktien und Optionen zum Erwerb einer gleichen Anzahl von Aktien zu 3,00 US-Dollar pro Einheit. Jede Option kann für 4,00 US-Dollar pro Aktie über fünf Jahre ausgeübt werden. POET verzeichnet eine hohe Nachfrage nach seiner optischen Motorentechnologie, die in 800G- und 1,6T-Geschwindigkeitsmodulen für KI-Verarbeitungskluster verwendet wird. Das Unternehmen plant, die Einnahmen für Betriebskapital und allgemeine Unternehmenszwecke zu verwenden. Es wurden keine Provisionen oder Vermittlungsgebühren bezahlt, und es wurde kein Underwriter engagiert. Das Angebot wurde unter einem wirksamen Shelf-Registrierungsantrag durchgeführt und unterliegt der endgültigen Genehmigung der TSX Venture Exchange.
- Raised US$10 million in capital through a registered direct offering
- Strong demand reported for POET's optical engine technology in AI processing clusters
- No commission or finder's fee paid, potentially saving on offering costs
- Potential dilution for existing shareholders due to issuance of new shares and warrants
- Warrants could lead to further dilution if exercised in the future
The completion of this US$10 million registered direct offering is significant for several reasons. First, it provides immediate liquidity to POET Technologies, enhancing its working capital and general corporate purposes. This is critical for the company's ability to sustain operations and potentially invest in new projects without the immediate need to generate equivalent revenue.
From a financial standpoint, this capital injection can be viewed as a positive signal by investors, indicating a vote of confidence from the institutional investor involved. The terms of the offering, including the price of
However, it is important for investors to consider potential dilution. The issuance of new shares and warrants will increase the total number of shares outstanding, which can dilute the value of existing shares if the company does not generate corresponding growth in earnings. The long-term impact will depend on how effectively POET Technologies can leverage this capital to enhance its market position and profitability.
POET Technologies' focus on optical engine technology for 800G and 1.6T speed optical modules places it at the cutting edge of data communication technology. This technology is indispensable for the scalability of AI processing clusters and other high-speed computing applications, which are increasingly vital in various tech industries.
The company's proprietary Photonic Integrated Circuits (PICs) and optical interposers present a significant technological advantage, as they enable faster and more efficient data transfer by integrating photonics directly onto semiconductor chips. For investors, this technological edge not only supports the immediate relevance of the funding but also suggests a promising future as these technologies are adopted more widely in data centers and telecommunications.
Nevertheless, the competitive landscape is intense and continuous innovation is key. How POET Technologies manages to maintain and advance its competitive advantage with the new capital will be critical. Success in this domain can translate into significant returns for shareholders, provided the technology gains broad market acceptance.
The fact that an institutional investor participated in this offering without the intermediation of an underwriter or sales agent is noteworthy. It implies a strong direct interest and confidence in POET Technologies' business model and market potential. This also means the company saved on potential fees and commissions, maximizing the net proceeds from this capital raise.
In the broader market context, the demand for high-speed, high-capacity data transmission solutions is expected to grow exponentially with the proliferation of AI, data centers and 5G technologies. POET Technologies' products are well-aligned with this trend, placing it in a favorable position to capitalize on these market dynamics. For retail investors, this alignment with long-term industry growth trends can be an encouraging sign, suggesting potential for sustained demand and revenue growth.
However, investors should remain cautious about market volatility and the execution risks associated with deploying these new funds effectively. The coming quarters will be critical for observing how these funds translate into tangible business growth and market share gains.
TORONTO, July 19, 2024 (GLOBE NEWSWIRE) -- POET Technologies Inc. ("POET" or the "Corporation") (TSXV: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets, is pleased to announce that it has completed a registered direct offering with a single institutional investor pursuant to which the Corporation issued 3,333,334 common shares (the "Common Shares") and warrants exercisable to acquire 3,333,334 Common Shares (the "Warrants") for aggregate gross proceeds of US
POET is currently experiencing strong demand for its proprietary optical engine technology that powers 800G and 1.6T speed optical modules for AI processing clusters and light sources for advanced chip-to-chip light-based data communications and high-speed computing. The Corporation intends to use the net proceeds of the Offering for working capital and general corporate purposes. No commission or finder's fee was paid by the Corporation and no underwriter or sales agent was engaged by the Corporation in connection with the Offering.
This Offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-273853) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 9, 2023, and declared effective on August 18, 2023. A prospectus supplement and accompanying prospectus describing the terms of the proposed offering was filed with the SEC on July 19, 2024, and is available on the SEC’s website located at www.sec.gov. All Common Shares and Warrants issued under the Offering were distributed to a purchaser located outside of Canada in reliance on OSC Rule 72-503 – Distributions Outside of Canada and, accordingly, all Common Shares and Warrants issued under the Offering are not subject to a Canadian statutory hold period in accordance with applicable Canadian securities laws. The Offering remains subject to the final acceptance of the TSX Venture Exchange (the "Exchange").
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.
About POET Technologies Inc.
POET is a design and development company offering high-speed optical engines, light source products and custom optical modules to the artificial intelligence systems market and to hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET's Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET’s Optical Interposer platform also solves device integration challenges across a broad range of communication, computing and sensing applications. POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore. More information about POET is available on our website at www.poet-technologies.com.
Media Relations Contact: Adrian Brijbassi adrian.brijbassi@poet-technologies.com | Company Contact: Thomas R. Mika, EVP & CFO tm@poet-technologies.com |
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include, without limitation, the Corporation's expectations with respect to its products, the scalability of the POET Optical Interposer and the success of the Corporation's products, the Corporation's use of proceeds for the Offering and the Corporation's ability to obtain the final approval of the Exchange. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding the size of the market for its products, the capability of its joint venture to produce products on time and at the expected costs, the performance and availability of certain components, and the success of its customers in achieving market penetration for their products. Actual results could differ materially due to a number of factors, including, without limitation, the attractiveness of the Corporation's product offerings, performance of its technology, the performance of key components, and ability of its customers to sell their products into the market. For further information concerning these and other risks and uncertainties, refer to the Corporation's filings on SEDAR+ at www.sedarplus.ca and on the website of the U.S. Securities and Exchange Commission at www.sec.gov. Although the Corporation believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Corporation's securities should not place undue reliance on forward-looking statements because the Corporation can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Corporation assumes no obligation to update or revise this forward-looking information and statements except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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