POET Technologies (NASDAQ: POET), the designer and developer of the POET Optical Interposer(TM), Photonic Integrated Circuits (PICs), and light sources for data center, telecommunications, and AI markets, announced it has entered securities purchase agreements with institutional investors for the sale of 20,689,655 common shares in an oversubscribed registered direct offering expected to raise approximately $150 million in gross proceeds. The Company plans to use the funds to support corporate development, targeted acquisitions, R&D expansion, acceleration of its light source business, and general working capital.
Titan Partners Group, a division of American Capital Partners, is acting as sole placement agent.
To view the full press release, visit https://ibn.fm/Cb3u7
About POET Technologies Inc.
POET is a design and development company offering high-speed optical engines, light source products and custom optical modules to the artificial intelligence systems market and to hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET’s Optical Interposer platform also solves device integration challenges across a broad range of communication, computing and sensing applications. POET is headquartered in Toronto, Canada, with operations in Singapore, Penang, Malaysia and Shenzhen, China.
More information about POET is available on our website at www.poet-technologies.com
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