POET Technologies Announces Pricing Of $1.4M Underwritten Public Offering Of Common Shares And Warrants

Author: Benzinga Newsdesk | November 30, 2023 10:20am

POET Technologies Inc. ("POET" or the "Company") (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, today announced the pricing of its previously announced underwritten public offering in the United States (the "Offering"). The Offering consists of 1,600,000 common shares of the Company and warrants to purchase 1,600,000 common shares of the Company at a public offering price of US$0.90 (CAD$1.22) per common share and accompanying warrant. Each warrant is exercisable at an exercise price of US$1.12 (CAD$1.52) per common share for a period of five years from issuance. Gross proceeds from the Offering are expected to be approximately $1.4 million (CAD$1.9 million) before deducting underwriting discounts, commissions and estimated offering expenses and without giving effect to the exercise, if any, of the overallotment option described below.

 

Maxim Group LLC is acting as sole book-running manager for the Offering.

Posted In: POET TSXV:PTK