POET Technologies (POET) said Thursday that it plans to complete a non-brokered public offering of 5 million units at $5 per unit for a total gross proceeds of $25 million.
The company said each unit has one share and one-half of a common share purchase warrant, with each full warrant being exercised to acquire one common share for $6 for five years from the date of issuance.
Proceeds from the offering, set to be completed on Dec. 19, will be used for working capital and general corporate purposes, the company said.
Price: 4.77, Change: -0.04, Percent Change: -0.83
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments