The photonics firm secured $400 million via a direct offering to accelerate AI infrastructure and photonic integration initiatives.
POET Technologies Inc. (NASDAQ:POET) agreed to sell 19.05 million common shares and warrants at $21.00 each, raising approximately $400 million in gross proceeds. The warrants, exercisable at $26.15 per share, have a three-year term and are set to close by May 18, 2026.
The capital raise follows a 117.57% one-month return and supports the company’s expansion into photonics and AI infrastructure. POET also announced a $50 million initial purchase order from Lumilens, with potential for over $500 million in cumulative purchases over five years.
Proceeds will enhance financial flexibility as POET scales its wafer-level photonic integration technologies for AI applications.