GlobeNewswire·May 18, 2026, 10:10 AM ET

POET Technologies Announces Closing of US$400 Million Investment

POET

POET Technologies Inc. closed a non-brokered registered direct offering by issuing 19,047,620 common shares & a warrant exercisable for 19,047,620 common shares to a single institutional investor.
The offering raised gross proceeds of US$400,000,020 at an agreed price of US$21.00 per security, representing a premium over the May 14, 2026 NASDAQ closing price of US$20.57.
The accompanying warrant is exercisable for three years at a price of US$26.25 per share, which is a 25% premium over the offering price.
Net proceeds will be used to accelerate the company's strategic roadmap across capacity, capability, & credibility dimensions.
Specific uses of proceeds include expanding manufacturing infrastructure, supporting corporate development & acquisitions, scaling R&D, accelerating the light source business, expanding operations, & funding general working capital.
POET is expanding wafer production & optical engine assembly capacity by roughly ten-fold to support higher volume manufacturing into 2027.
This capacity expansion is driven by an agreement with Lumilens & other near-term high-volume opportunities.
The company has accelerated hiring to increase global headcount to over 115 employees.
POET expanded its Singapore lab & office footprint by nearly three times & now operates 20,000 square feet of assembly space in Malaysia.
Corporate development remains a priority, with the company actively evaluating acquisition & partnership opportunities to enhance engineering capabilities & product portfolios.
The offering was executed pursuant to an automatic shelf registration statement on Form F-3 filed with the SEC that became effective on January 22, 2026.
POET designs Photonic Integrated Circuits, optical engines, & light source products for the AI & data center markets using its patented Optical Interposer™ platform.