Poet Technologies Inc. (TSE:PTK) has released an update.
POET Technologies Inc. has announced its plan to amend the terms of over half a million warrants issued in a 2022 private placement, including reducing the exercise price and adding an Acceleration Clause in compliance with TSX Venture Exchange policies. The company seeks to obtain the warrant holders’ written consent for these amendments, which aim to make the warrants more attractive by lowering the exercise price significantly from C$4.95 to C$1.80. Once approved, an Acceleration Clause will also potentially shorten the warrant’s life if the company’s stock trades above a certain price for ten consecutive days.
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