POET Technologies Announces Non-Brokered Private Placement
11 Diciembre 2023 - 6:07AM
POET Technologies Inc. ("
POET" or the
"
Corporation") (TSXV: PTK; NASDAQ: POET) is
pleased to announce that it is undertaking a non-brokered private
placement of up to 4,098,360 units of the Corporation (the
"
Units") at a price of C$1.22 (US$0.90) per Unit,
for aggregate gross proceeds of up to approximately C$5.0 million
(US$3.7 million) (the "
Offering"). Each Unit will
be comprised of one common share of the Corporation (each, a
"
Common Share") and one Common Share purchase
warrant (each whole Common Share purchase warrant, a
"
Warrant"), with each Warrant entitling the holder
thereof to purchase one Common Share at a price of C$1.52 (US$1.12)
per Common Share for a period of five years following the date of
issuance of such Warrant. The net proceeds of the Offering are
expected to be used for general corporate purposes, including
revenue expansion and the development and production of photonic
modules for AI and related markets.
The intended purpose of the Offering is to raise
additional capital for the Company while providing investors in
Canada with terms that are similar to those offered in the
Company’s recently completed public offering in the United
States.
In connection with the Offering, the Corporation
intends to enter into binding subscription agreements with
individual accredited investors at a minimum investment amount of
C$10,000.
The Corporation may conduct multiple closings at
its discretion with the final closing of the Offering is expected
to take place on or around January 15, 2024. Closing of the
Offering is subject to the satisfaction or waiver of a number of
customary closing conditions, including the approval of the TSX
Venture Exchange ("TSXV"). The securities issued
pursuant to the Offering will be subject to applicable hold
periods, including the statutory four month hold period from the
date of closing of the Offering. In connection with the closing,
the Corporation may pay cash fees to certain finders in respect of
subscriptions received from certain investors in connection with
the Offering, subject to entering into customary arrangements with
such finders and subject to the approval of the TSXV. Further
information with respect to any such commissions or fees will be
provided at the time of closing. For additional information
concerning the Offering, refer to the contact information below or
contact investors@poet-technologies.com.
About POET Technologies
Inc.POET is a design and development company offering
integration solutions based on the POET Optical Interposer™, a
novel platform that allows the seamless integration of electronic
and photonic devices into a single multi-chip module using advanced
wafer-level semiconductor manufacturing techniques and packaging
methods. POET’s Optical Interposer eliminates costly components and
labor-intensive assembly, alignment, burn-in and testing methods
employed in conventional photonics. The cost-efficient integration
scheme and scalability of the POET Optical Interposer brings value
to any device or system that integrates electronics and photonics,
including some of the highest growth areas of computing, such as
Artificial Intelligence (AI), the Internet of Things (IoT),
autonomous vehicles and high-speed networking for cloud service
providers and data centers. POET is headquartered in Toronto, with
operations in Allentown, PA, Shenzhen, China and Singapore. More
information may be obtained at www.poet-technologies.com.
Forward-Looking StatementsThis
press 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 an outlook. Such
information and statements include the Company’s anticipated use of
the net proceeds of its recent public offering.
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 success of the Company’s
announced products, the timing of completion of its development
efforts, the successful implementation of its optical engine or
light source products, the success of its customers’ products, the
capabilities of its operations, including its joint venture, the
Company’s ability to correctly gauge market needs and to produce
products in the required amounts and on a timely basis. Actual
results could differ materially due to a number of factors,
including, without limitation, the Company’s ability to raise
additional capital (including any delays or changes of plan with
respect to any capital raises, the dilutive effects of capital
raises and market conditions), the failure of the Company’s
products to meet performance requirements, the failure to produce
products on a timely basis or at all, the failure of the Company’s
optical engine or light source products to be incorporated into its
customers’ products, the failure of its customers’ products to
achieve market penetration, any operational risks including the
ability to attract key personnel. Although the Company believes
that the expectations reflected in the forward-looking information
or statements are reasonable, prospective investors in the
Company’s securities should not place undue reliance on
forward-looking information and statements because the Company can
provide no assurance that such expectations will prove to be
correct. Forward-looking information and statements contained in
this press release are as of the date of this press release and the
Company assumes no obligation to update or revise this
forward-looking information and statements except as required by
law.
Contacts:
Media Relations
Contact:Adrian
Brijbassiadrian.brijbassi@poet-technologies.com |
Company
Contact:Thomas R. Mika, EVP &
CFOtm@poet-technologies.com |
Neither 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 release. 120
Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel:
416-368-9411 - Fax: 416-322-5075
POET Technologies (NASDAQ:POET)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
POET Technologies (NASDAQ:POET)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024