POET Technologies Announces Public Offering of Common Shares and Warrants
02 11월 2023 - 7:17AM
POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK;
NASDAQ: POET), the designer and developer of the POET Optical
Interposer™ and Photonic Integrated Circuits (PICs) for the data
center, telecommunication and artificial intelligence markets,
today announced it has commenced an underwritten public offering in
the United States (the “U.S. Offering”). Concurrently, the Company
has also commenced a non-brokered offering in Canada (the "LIFE
Offering" and, together with the U.S. Offering, the "Offering").
The Offering consists of common shares of the Company and warrants
to purchase common shares and is subject to market conditions.
There can be no assurance as to whether or when the Offering may be
completed, or as to the actual size, pricing or other terms of the
Offering. In addition, POET intends to grant the underwriter a
45-day option to purchase up to an additional 15 percent of the
number of common shares and/or warrants offered in the U.S.
Offering.
Maxim Group LLC is acting as sole book-running
manager for the U.S. Offering.
POET currently intends to use the net proceeds
from the Offering, if completed, for general working capital
purposes, including revenue expansion and the development and
production of photonic modules for AI and related markets.
The U.S. 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. The securities in the U.S. Offering may be offered
in the United States only by means of a prospectus. A preliminary
prospectus supplement and the accompanying prospectus relating to
and describing the terms of the U.S. Offering will be filed with
the SEC, will form a part of the effective registration statement
and will be available on the SEC’s website at www.sec.gov. When
available, copies of the preliminary prospectus supplement and
accompanying prospectus relating to the U.S. Offering may also be
obtained by contacting Maxim Group LLC at 300 Park Avenue, 16th
Floor, New York, NY 10022, Attention: Syndicate Department, by
telephone at (212) 895-3745 or by email at syndicate@maximgrp.com.
Before you invest, you should read the preliminary prospectus
supplement and accompanying prospectus and the other documents that
POET has filed with the SEC for more complete information about
POET and the U.S. Offering.
The LIFE Offering has been structured to take
advantage of the listed issuer financing exemption from prospectus
requirements (the "Exemption") in Part 5A of National Instrument
45-106 – Prospectus Exemptions ("NI 45-106"), whereby securities
issued pursuant to the Exemption are freely tradeable listed equity
securities not subject to any hold period (see below). The LIFE
Offering will be conducted in all the provinces of Canada, except
Québec, under the Exemption, for aggregate gross proceeds up to
C$10,000,000. There is an offering document relating to the LIFE
Offering (the "Offering Document") that can be accessed under the
Company's profile on SEDAR+ at www.sedar.com and on the Company's
website www.poet-technologies.com. Prospective investors in the
LIFE Offering should read the Offering Document before making an
investment decision. The securities being offered in
the LIFE Offering have not been registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), and
such securities may not be offered or sold within the United States
except pursuant to an effective registration statement in the
United States or an exemption from the registration requirements of
the U.S. Securities Act and applicable state securities laws.
This press release does not constitute
an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
About POET Technologies
Inc.POET Technologies 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 the public offering (if any).
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, the
Company's ability to complete the Offering in the manner described,
or at all, the receipt of all required regulatory approvals with
respect to the Offering, 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, delays or changes of plan with respect to the Offering
described herein, termination of the Offering in accordance with
its terms, the dilutive effects of the Offering, 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,
operational risks including the ability to attract key personnel,
and the Company’s ability to raise additional capital if necessary.
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: 416-322-507
POET Technologies (NASDAQ:POET)
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POET Technologies (NASDAQ:POET)
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