POET Technologies said it has closed a US$400 million registered direct investment from a single institutional investor, adding gross proceeds of US$400,000,020 to fund manufacturing expansion, R&D and growth initiatives.
POET Technologies said it has closed a registered direct investment worth US$400 million, a financing it first announced last week.
The company said the deal closed on May 18, 2026 and involved a single institutional investor. POET raised gross proceeds of US$400,000,020 by issuing 19,047,620 common shares and a warrant for an additional 19,047,620 shares.
The securities were priced at US$21.00 each, above POET's May 14 Nasdaq closing price of US$20.57.
Use of proceeds
POET said it plans to use the money for manufacturing infrastructure, research and development, targeted acquisitions, growth of its light source business, expanded operations and working capital.
The closing turns a financing agreement announced on May 15 into completed capital that the semiconductor and photonics company can now deploy as it expands production and development efforts.
POET did not disclose the identity of the investor.
Revision note
Initial automated publication.