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31 October 2016

POET confirms CDN$12.5m public offering

POET Technologies Inc of San Jose, CA, USA and Toronto, Canada — which has developed the proprietary planar optoelectronic technology (POET) platform for monolithic fabrication of integrated III-V-based electronic and optical devices on a single semiconductor wafer — has entered into a placement agency agreement for a syndicate led by Rodman & Renshaw (a unit of H.C. Wainwright & Co LLC) as lead agent and book-running manager (and sole agent in the USA) and Cormark Securities Inc as lead manager in Canada to seek purchasers of up to 34,800,000 units of the company (each comprising one common share and one common share purchase warrant) at a price of CDN$0.36 per unit. Each warrant is exercisable by the holder to acquire one additional share at a price of CDN$0.52 each for 60 months after the offering closes (on or about 2 November).

Total gross proceeds are up to CDN$12,528,000m. POET intends to use the net proceeds for general corporate purposes, which may include increasing working capital, R&D, further product and sales development, as well as potential business or intellectual property acquisitions in support of strategic growth.

Tags: POET

Visit: www.poet-technologies.com

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