Poet Technologies sells 20.69M shares in registered direct offering

Poet Technologies (POET) announced that it has entered into securities purchase agreements with institutional investors for the purchase and sale of 20,689,655 common shares in an “oversubscribed” registered direct offering. The offering is expected to result in gross proceeds of approximately $150M. The closing of the offering is expected to occur on or about October 28. Participants in the offering include two new fundamental investment managers. The company intends to use the proceeds from for corporate development. Titan Partners Group, a division of American Capital Partners, is acting as the sole placement agent for the offering