Poet Technologies Inc. (TSE:PTK) has released an update.
POET Technologies Inc. is bolstering its finances with an additional CAD$10 million through a private placement, offering units at a discounted rate to Canadian institutional investors. The funds will support the company’s growth as it experiences heightened demand for its optical engine technology, crucial for AI processing and high-speed data communications. The deal includes common shares and purchase warrants, with a planned closing date around May 10, 2024, independent of another financing round announced earlier.
For further insights into TSE:PTK stock, check out TipRanks’ Stock Analysis page.
