POET Technologies Inc. (NASDAQ:POET) shares traded lower Friday after the optical networking company announced a $400 million capital raise alongside first-quarter results.
The company disclosed a large registered direct offering with a single institutional investor while reporting widening losses despite rising AI infrastructure demand.
Large Capital Raise Announced
POET agreed to sell 19.05 million common shares and matching warrants in a non-brokered transaction.
The securities carry a combined purchase price of $21 each. The financing could generate gross proceeds exceeding $400 million.
The warrants remain exercisable for three years at a strike price of $26.15 per share. Management expects the transaction to close on Monday.
The company plans …
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