07:20:07 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Poet Technologies Inc
Symbol PTK
Shares Issued 262,216,102
Close 2018-03-09 C$ 0.68
Market Cap C$ 178,306,949
Recent Sedar Documents

Poet Technologies arranges $8-million financing

2018-03-12 09:40 ET - News Release

Mr. Brett Berry reports

POET TECHNOLOGIES INC. ANNOUNCES C$8 MILLION BOUGHT DEAL FINANCING

Poet Technologies Inc. has entered into an agreement with Cormark Securities Inc. pursuant to which the underwriter has agreed to purchase on a bought deal basis 14,545,500 units of the company at a price of 55 cents per unit, representing total gross proceeds of $8,000,025. Closing is expected on or about March 21, 2018, and is subject to regulatory approval including that of the TSX Venture Exchange.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each full warrant shall entitle the holder to purchase one common share at a price equal to 75 cents for a period of 24 months following the closing of the offering.

The underwriter also has an option to purchase up to an additional 2,181,815 units at the offering price (representing 15 per cent of the offering) on the closing date for market stabilization purposes and price to cover overallotments for a period of 30 days after the date of closing.

The net proceeds of the offering will be used by the company for general corporate matters.

The units to be issued under this offering will be offered in accordance with the terms of a prospectus supplement to be filed in all provinces in Canada except Quebec and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and such other jurisdictions as may be agreed upon by the company and the underwriter.

About Poet Technologies Inc.

Poet Technologies is a developer and manufacturer of optical light source products for the sensing and data communications markets. Integration of optics and electronics is fundamental to increasing functional scaling and lowering the cost of current photonic solutions. Poet believes that its approach to both hybrid and monolithic integration of devices, utilizing a novel dielectric platform and proven advanced wafer-level packaging techniques, enables substantial improvements in device cost, efficiency and performance. Optical engines based on this integrated approach have applications ranging from data centres to consumer products to military applications.

We seek Safe Harbor.

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