Re: POET Reports on Share Sales under ATM Program for the Quarter Ending September 30, 2023
posted on
Oct 14, 2023 02:11AM
What company with no more than 6 month runway suspends an ATM? I believe that they secured funding or a backing JV while waiting on better market conditions, but to be honest, we have institutional % of about 2% which is suprisingly low, so I woulnd't be surprised if no one is willing to buy shares from POET, which is alarming.
The decision to suspend the ATM raises lots of questions about POET's financial health and future funding needs given the runway of not more than a couple months. The specific reasons for suspending the program should be clarified by the company. I will definitely put no more money into this as it is more of a bet than well considered investing. Please clarify POET.