11:10 AM EDT, 05/10/2024 (MT Newswires) -- POET Technologies ( POET ) on Friday said it closed its $10-million private placement of share units to two institutional investors.

Poet sold 3.45 million units at $2.90 each. Each unit consists of a share and a five-year warrant to buy a share for $4.26.

Proceeds will be used for general working capital purposes.

Poet shares were last seen up $0.15 to $3.10 on the TSX Venture Exchange.

Price: 3.10, Change: +0.15, Percent Change: +5.08