POET Technologies closes $400 million investment round

POET Technologies Inc. (NASDAQ: POET) completed a registered direct offering that raised $400 million in gross proceeds from a single institutional investor. The photonic integrated circuits developer issued 19,047,620 common shares and warrants for an equal number of shares at $21.00 per security.

The offering price represented a premium over POET's closing price of $20.57 on May 14, 2026. The accompanying warrants are exercisable for three years at $26.25 per share, a 25% premium over the selling price.

The company plans to use the proceeds to expand manufacturing capacity, support acquisitions, scale research and development, accelerate its light source business, and provide working capital. POET is targeting a ten-fold increase in wafer production and optical engine assembly capacity to support higher volume manufacturing in 2027.

"We are in the process of expanding our capacity by roughly ten-fold in both wafer production and optical engine assembly in order to support a transition to higher volume manufacturing into 2027," said Dr. Suresh Venkatesan, Chairman and Chief Executive Officer.

The expansion follows an agreement with Lumilens announced the previous week. POET has increased its global headcount to more than 115 employees and expanded its Singapore operations by nearly three times compared to the previous year. The company now operates 20,000 square feet of assembly space in Malaysia.

POET is evaluating acquisition and partnership opportunities to strengthen engineering capabilities and broaden its product portfolio for AI infrastructure markets. The offering was conducted under an automatic shelf registration statement that became effective in January 2026.

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