- POET Technologies (PTK) announced a non-brokered private placement for gross proceeds of up to C$6.85 million
- The corporation will issue up to 1,798,561 units at $3.81 per unit
- The offering is expected to close on or around December 2, 2022
- POET Technologies is a design and development company
- POET Technologies Inc. (PTK) is down 2.13 per cent on the day, trading at C$3.68 per share at 2:30 pm ET
POET Technologies (PTK) announced a non-brokered private placement for gross proceeds of up to C$6.85 million.
The corporation will issue up to 1,798,561 units at $3.81 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional share at a price of C$4.95 for a period of three years following the closing date of the offering. The net proceeds will be used for general corporate purposes.
POET has entered into subscription agreements with investors representing expected subscription proceeds totalling approximately C$3.75 million. The corporation may accept subscriptions from other investors up to a total of approximately C$6.85 million.
The offering is expected to close on or around December 2, 2022.
All securities issued will be subject to a statutory four-month hold period. POET may pay cash commissions and or finder’s fees in connection with the offering.
POET Technologies is a design and development company offering integrated solutions based on the POET Optical Interposer.
POET Technologies Inc. (PTK) is down 2.13 per cent on the day, trading at C$3.68 per share at 2:30 pm ET.