TORONTO, Nov.26, 2024 (GLOBE NEWSWIRE) -- POET Technologies Inc.("POET" or the "Corporation") (TSXV: 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 announces its intention to complete a registered direct offering pursuant to which the Corporation expects to issue 5,555,556 common shares (the "Common Shares") and warrants exercisable for 2,777,778 Common Shares (the "Warrant" and, together with the Common Shares, the "Offered Securities").
In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET's Optical Interposer platform also solves device integration challenges across a broad range of communication, computing and sensing applications. POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore. More information about POET is available on our website at Media Relations Contact:Adrian Brijbassiadrian.brijbassi@poet-technologies.comCompany Contact:Thomas R.
Such statements include, without limitation, the Corporation's expectations with respect to consummation of the Offering, its products, the scalability of the POET Optical Interposer and the success of the Corporation's products, the Corporation's ability satisfy all closing conditions and close the Offering within the announced timeline, the Corporation's use of proceeds for the Offering and the Corporation's ability to obtain the final approval of the Exchange.
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