News: Optoelectronics
3 November 2021
POET raises US$14m from 2016 warrants
POET Technologies Inc of Toronto, Ontario, Canada — a designer and developer of the POET Optical Interposer and photonic integrated circuits (PICs) for the data-center and telecom markets — says that it has raised about US$14.1m on the exercise of the CDN$0.52 warrants that were issued as part of its public offering in 2016. The warrants expired at the close of business on 2 November.
Since the original date of issuance on 2 November 2016, a combined 33,867,000 warrants were exercised of the total 34,800,000 warrants issued, generating gross proceeds of about US$14.1m. Of these warrants, 13,115,750 have been exercised since 30 June, netting the firm about US$5.4m in additional capital.
The firm’s unaudited cash balance subsequent to the expiration of warrants on 2 November was about US$23.8m.
On 4 November, POET’s senior management is participating in the GCFF Virtual Conference Main Event – Small Cap Investing (in which chief financial officer Thomas Mika is delivering a presentation at 10:05am Pacific Time).
