Business
POET Comments on Recent Market Activity
TORONTO, Nov. 22, 2023 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of
About this update from Poet Technologies Inc.
[{"type":"text","content":"TORONTO, Nov. 22, 2023 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; 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, today provided commentary on recent events, including the above average trading activity in its stock over the past two weeks. On November 2, 2023, the Company announced an underwritten public offering in the United States and a concurrent offering in Canada (the “Offering”). Since that time, the Company has been actively engaged with prospective investors in the United States and Canada, with a focus on securing institutional investors capable of leading other firms to provide the needed capital to continue the Company’s operations through early 2025. “Even though market conditions are not favorable to small and micro-cap companies, we are continuing to have positive discussions with several potential investors in the offering,” said Thomas Mika, POET’s EVP & CFO. “Except for speculation around this offering, we have experienced no changes in the Company’s plans, commercial efforts or operations that would be a reason for the recent declines in the Company’s share price.” The Company has filed a registration statement on Form F-3 (File No. 333-273853) with the U.S. Securities and Exchange Commission (the “SEC”) and a preliminary prospectus supplement to the registration statement, describing the Offering. Potential investors in the Offering are advised to read the prospectus supplement and accompanying prospectus, including the risk factors set forth therein and incorporated by reference therein, and the documents incorporated by reference in or filed as exhibits to the registration statement, for more complete information about the Company and the proposed Offering. Those documents may be accessed free of charge by visiting EDGAR on the SEC’s website at www.sec.gov/EDGAR. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of common shares or warrants in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification, or an exemption from registration or qualification, under the securities l...