POET Comments on Recent Market Activity
22 Novembre 2023 - 1:50PM
POET Technologies Inc. (“
POET” or the
“
Company”) (TSX Venture: 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, today
provided commentary on recent events, including the above average
trading activity in its stock over the past two weeks.
On November 2, 2023, the Company announced an
underwritten public offering in the United States and a concurrent
offering in Canada (the “Offering”). Since that time, the Company
has been actively engaged with prospective investors in the United
States and Canada, with a focus on securing institutional investors
capable of leading other firms to provide the needed capital to
continue the Company’s operations through early 2025.
“Even though market conditions are not favorable
to small and micro-cap companies, we are continuing to have
positive discussions with several potential investors in the
offering,” said Thomas Mika, POET’s EVP & CFO. “Except for
speculation around this offering, we have experienced no changes in
the Company’s plans, commercial efforts or operations that would be
a reason for the recent declines in the Company’s share price.”
The Company has filed a registration statement
on Form F-3 (File No. 333-273853) with the U.S. Securities and
Exchange Commission (the “SEC”) and a preliminary prospectus
supplement to the registration statement, describing the Offering.
Potential investors in the Offering are advised to read the
prospectus supplement and accompanying prospectus, including the
risk factors set forth therein and incorporated by reference
therein, and the documents incorporated by reference in or filed as
exhibits to the registration statement, for more complete
information about the Company and the proposed Offering. Those
documents may be accessed free of charge by visiting EDGAR on the
SEC’s website at www.sec.gov/EDGAR.
This news release does not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of common shares or warrants in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification, or an exemption from registration or
qualification, under the securities laws of any such
jurisdiction.
About POET Technologies
Inc.POET is a design and development company offering
integration solutions based on the POET Optical Interposer™, a
novel platform that allows the seamless integration of electronic
and photonic devices into a single multi-chip module using advanced
wafer-level semiconductor manufacturing techniques and packaging
methods. POET’s Optical Interposer eliminates costly components and
labor-intensive assembly, alignment, burn-in and testing methods
employed in conventional photonics. The cost-efficient integration
scheme and scalability of the POET Optical Interposer brings value
to any device or system that integrates electronics and photonics,
including some of the highest growth areas of computing, such as
Artificial Intelligence (AI), the Internet of Things (IoT),
autonomous vehicles and high-speed networking for cloud service
providers and data centers. POET is headquartered in Toronto, with
operations in Allentown, PA, Shenzhen, China and Singapore. More
information may be obtained at www.poet-technologies.com.
Forward-Looking StatementsThis
press release contains "forward-looking information" (within the
meaning of applicable Canadian securities laws) and
"forward-looking statements" (within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995, including
statements regarding expectations for growth in revenue). Such
statements or information are identified with words such as
"anticipate", "believe", "expect", "plan", "intend", "potential",
"estimate", "propose", "project", "outlook", "foresee" or similar
words suggesting future outcomes or statements regarding an
outlook. Such information and statements include statements related
to the Company’s most recently completed fiscal quarter and its
expectations for commercializing its technology and products,
efforts to enhance sales and customer acquisition and the other
elements of its growth strategy.
Such forward-looking information or statements
are based on a number of risks, uncertainties and assumptions which
may cause actual results or other expectations to differ materially
from those anticipated and which may prove to be incorrect.
Important factors that could affect performance and cause results
to differ materially from those expressed or implied in the
forward-looking information or statements are described in the
“Risk Factors” section in the Company’s Annual Report on Form 20-F
for the fiscal year ended December 31, 2022, as updated from time
to time in the Company’s filings with the U.S. Securities and
Exchange Commission. These factors include, but are not limited to,
the Company’s ability to raise capital (whether in the Offering or
otherwise), market conditions, the failure of the Company’s
products to meet performance requirements, the failure to produce
products on a timely basis or at all, the failure of the Company’s
optical engine or light source products to be incorporated into its
customers’ products, the failure of its customers’ products to
achieve market penetration, and operational risks including the
ability to attract key personnel. Although the Company believes
that the expectations reflected in the forward-looking information
or statements are reasonable, prospective investors in the
Company’s securities should not place undue reliance on
forward-looking information and statements because the Company can
provide no assurance that such expectations will prove to be
correct. Forward-looking information and statements contained in
this press release are as of the date of this press release and the
Company assumes no obligation to update or revise this
forward-looking information and statements except as required by
law.
Contacts:
Media Relations Contact:Adrian
Brijbassiadrian.brijbassi@poet-technologies.com |
Company Contact:Thomas R. Mika, EVP &
CFOtm@poet-technologies.com |
|
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.120
Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel:
416-368-9411 - Fax: 416-322-507
POET Technologies (TSXV:PTK)
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