TORONTO, May 20, 2025 (GLOBE NEWSWIRE) -- POET Technologies Inc.("POET" or the "Corporation") (TSXV: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets, is pleased to announce that, further to its news release dated April 28, 2025, in response to significant interest from a strategic investor and to allow for a more timely execution, it proposes to amend the terms of its previously announced non-brokered public offering to, among other things, increase the offering size to US$30,000,000 and make certain ancillary revisions to the offering structure, which will now be conducted as a non-brokered private placement (as amended, the "Offering”).
In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET's Optical Interposer platform also solves device integration challenges across a broad range of communication, computing and sensing applications. POET is headquartered in Toronto, Canada, with operations in Singapore, Penang, Malaysia and Shenzhen, China. More information about POET is available on our website at Media Relations Contact:Adrian Brijbassiadrian.brijbassi@poet-technologies.comCompany Contact:Thomas R.
Such statements include, without limitation, the Corporation’s ability to complete the Offering on the terms announced and within the expected timeline, the Corporation's expectations with respect to its products, the scalability of the POET Optical Interposer and the success of the Corporation's products, the Corporation's use of proceeds for the Offering and the Corporation's ability to obtain the final approval of the Exchange.
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