By Karen Roman
POET Technologies Inc. (Nasdaq: POET) said it closed its direct offering by issuing about 19 million common shares in a sale totaling $400 million to a single institutional investor.
The company will use the proceeds for manufacturing expansion, targeted acquisitions including R&D and corporate development activities, among others, it stated.
“We are in the process of expanding our capacity by roughly ten-fold in both wafer production and optical engine assembly in order to support a transition to higher volume manufacturing into 2027,” said Dr. Suresh Venkatesan, POET’s Chairman and CEO.
READ MORE
Final Panel Agenda and Closing Registration: 2nd Princeton CorpGov Forum May 21 – Endowments, Activism and Entertainment
Never Miss our Weekly Highlights HERE
Contact:
Editor@IPO-Edge.com
Click HERE to follow us on LinkedIn
