POET Technologies Raises US$75M for Growth and Acquisitions
POET Technologies Inc. (POET) has successfully raised US$75,000,020 in a non-brokered financing round, led by Larvotto Resources Limited. The Toronto-based company plans to use the net proceeds for corporate development, including targeted acquisitions and scaling up of R&D.
The financing involved the issuance of 13,636,364 common shares and one warrant per share. The warrant entitles holders to purchase up to the same number of common shares at a per share exercise price of C$9.78, exercisable until October 7, 2030. The combined price of one common share and the warrant was US$5.50.
POET's Optical Interposer platform, which seamlessly integrates electronic and photonic devices into a single chip, is a key driver of the company's growth. This platform offers products with lower cost, lower power consumption, smaller size, and high scalability. The company's strong financial position, with over $150 million in cash and no significant debt, allows it to pursue its growth ambitions in the market for advanced AI hardware solutions. POET operates in Toronto, Canada, with additional operations in Singapore, Penang, Malaysia, and Shenzhen, China.
POET's recent financing will support its corporate development plans, including targeted acquisitions and R&D scaling. The company's innovative Optical Interposer platform and strong financial position position it well for growth in the advanced AI hardware solutions market.
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