POET Technologies Announces Pricing Of $1.4M Underwritten Public Offering Of Common Shares And Warrants
Portfolio Pulse from Benzinga Newsdesk
POET Technologies Inc. has priced its public offering in the United States at $1.4 million, which includes 1.6 million common shares and equal number of warrants at $0.90 per share and warrant. Each warrant is exercisable at $1.12 for five years. Maxim Group LLC is the sole book-running manager for the offering.
November 30, 2023 | 2:20 pm
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POET Technologies announces a $1.4M underwritten public offering of common shares and warrants, potentially diluting current shareholders but providing capital for growth.
The announcement of a new public offering often leads to short-term negative pressure on a company's stock price due to the potential dilution of existing shares. However, the capital raised can be beneficial for the company's growth in the long term.
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