POET Technologies Announces US$10 Million Registered Direct Offering
19 Julho 2024 - 5:50PM
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$10,000,002 (the “
Offering”). The
combined price of one Common Share and accompanying Warrant in
respect of one Common Share was US$3.00 (or approximately C$4.09).
Each Warrant is exercisable to acquire one Common Share at an
exercise price of US$4.00 (or approximately C$5.45) per Common
Share for a period of five years from the date of issuance.
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.
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Media Relations Contact:Adrian
Brijbassiadrian.brijbassi@poet-technologies.com |
Company Contact:Thomas R. Mika, EVP &
CFOtm@poet-technologies.com |
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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.
120 Eglinton Avenue, East, Suite 1107,
Toronto, ON, M4P 1E2- Tel: 416-368-9411 - Fax:
416-322-5075
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