POET Technologies (POET) closed a non-brokered financing with a single institutional investor. The Corporation issued and sold 13,636,364 common shares of the Corporation (the “common shares”) and one common share purchase warrant of the Corporatio in a private placement for gross proceeds of $75,000,002 before deducting related expenses. A more detailed discussion of the terms of the Investment and the securities issued therein is included further below. This represents the largest single investment in POET’s history. The Corporation intends to use the net proceeds from this investment for corporate development, including targeted acquisitions, scaling up of R&D, acceleration of the light source business, expanding operations and general working capital.
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