Re: POET Sale of DenseLight Subsidiary to Close on or before November 8

Aiming to become the global leader in chip-scale photonic solutions by deploying Optical Interposer technology to enable the seamless integration of electronics and photonics for a broad range of vertical market applications

Reply New Message

Prev Message Back To Forum Threaded View Next Message

Maple Syrup

Rank: Treasurer [?]

Points: 941 [?]

Votes: 167 Score: 2.1 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Re: POET Sale of DenseLight Subsidiary to Close on or before November 8

in response to

Re: POET Sale of DenseLight Subsidiary to Close on or before November 8

Rainer

posted on Oct 30, 2019 08:39AM

Rainer and all,

Totally agree.

During the AGM the lady from China answered questions for approx 40 min on the trials and tribulations of moving $ out of China. The fact that the buyer has provided evidence that the $ are available is reassuring.

Secondly, at the AGM we were hearing that the purchase price was $26M and that still holds. Good to see that the addn due dil is being paid by the buyer. Probably nothing material was discovered during the due dil. Hence, price holds and buyer pays all fees. And, more importantly, purchase price holds.

From comm:

The Buyer has provided documentary evidence that the funds needed for the first tranche payment are present in its accounts and will continue to inform the Company on the status of its ODI applications, conversion to US dollars and associated bank transfers. The sale will close upon receipt of the US$8 million into POET’s account.