04:56 PM EDT, 07/19/2024 (MT Newswires) -- POET Technologies Inc. (PTK.V and NASDAQ: POET), the designer and developer of the POET Optical Interposer, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets, was at last look down near 2.3% in US after trade Friday as it completed a registered direct offering with a single institutional investor pursuant to which the corporation issued 3,333,334 common shares and warrants exercisable to acquire 3,333,334 common shares for aggregate gross proceeds of near US$10 million.

According to a statement, the combined price of one common share and accompanying warrant in respect of one common share was US$3.00 (or approximately C$4.09). Each Warrant is exercisable to acquire one common share at an exercise price of US$4.00 (or approximately C$5.45) per common share for a period of five years from the date of issuance.