POET Technologies stock falls after announcing discounted $25M offering

Published 07/07/2025, 13:40
© Reuters.

Investing.com -- POET Technologies Inc (TSXV:PTK) (NASDAQ:POET) stock tumbled 9.2% Monday after the optical engine manufacturer announced plans for a $25 million public offering at a significant discount to its market price.

The Toronto-based company intends to issue 5 million units priced at $5.00 each, representing a 12% discount from Friday’s closing price on the TSX Venture Exchange. Each unit will consist of one common share and one warrant exercisable at C$8.16 for five years.

According to the announcement, a single Canadian institutional investor is expected to subscribe for the entire offering. POET plans to use the proceeds for working capital and general corporate purposes, with no commission or finder’s fee to be paid in connection with the transaction.

The offering still requires regulatory approvals, including from the TSX Venture Exchange, along with other customary closing conditions.

Thomas Mika, executive vice president and chief financial officer, noted that the company has raised over $100 million in equity capital at "increasingly higher prices" over the past year, achieving what he described as all of POET’s near-term financing goals.

POET Technologies specializes in designing optical engines and light sources for artificial intelligence networks and hyperscale data centers. The company’s products are built on its Optical Interposer platform, which integrates electronic and photonic devices into single chips using semiconductor manufacturing techniques.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.