The amendment of the Feb 11, 2023 warrants struck at $11.50 is interesting and positive.

Recently, Poet went through a direct capital raise targetting $6.8mm. In spite of having $3.75mm precommitted, they ended up raising only $4.3mm, as smaller investors only added an additional $550k. This left about 700,000 shares unsold along with their 350,000 stapled warrants.

While Poet has enough cash for some time, there were 1.76mm warrants struck at $11.50 expiring on Feb 11. While it may be nice to think the share price may increase that much in 1 1/2 months,  hope is not a strategy. So the CFO acted strategically and lowered the warrant  stike price to $4.25 and extended the maturity to May 11, thereby providing sufficient time for the share price to increase the required 2% or more to make warrant exercise economic.

Now, having not issued the 1,000,000 shares, we may  be issuing 1.7mm, for proceeds of about $7.5mm.  Additional dilution is about 2%.  This will provide about twice as much capital as originally targetted. The less attractive alternative action was to do a traditional broker-led capital raise which would come at a discount to market and include stapled warrants that serve to dilute going forward.

This is a bold and  brilliant strategic financing plan, well done TM.