23 January 2023
POET completes amendment of warrant terms
POET Technologies Inc of Toronto, Ontario, Canada — a designer and developer of the POET Optical Interposer, photonic integrated circuits (PICs) and light sources for the data-center, telecom and artificial intelligence (AI) markets — says that, further to its announcement on 22 December, it has completed the amendment to the terms of 1,764,720 common share purchase warrants that were issued pursuant to a private placement that closed on 11 February 2021.
The warrants previously had an exercise price of C$11.50 per common share and were due to expire on 11 February 2023. As a result of the amendments, the warrants are now exercisable to acquire one common share at an exercise price of C$4.25 each until 5pm (Toronto time) on 11 May.
In accordance with the policies of the TSX Venture Exchange, the expiry date of the warrants may be accelerated to 30 calendar days if, for any 10 consecutive trading days during the unexpired term of the warrants, the closing price of the common shares on the exchange is equal to or greater than C$4.89 each. All other terms and conditions of the warrants remain the same.