03:33 AM EST, 12/04/2024 (MT Newswires) -- POET Technologies ( POET ) said late Tuesday it has completed a $25 million registered direct offering with a single institutional investor consisting of 5.6 million shares and warrants to acquire up to 2.8 million shares.

The combined price for one share and accompanying warrant was $4.50 and the exercise price of the warrant is $6.00, exercisable for five years from the date of issuance, the company said.

The company said it plans to use net proceeds of the offering for its recently announced expansion of assembly operations into Malaysia and for other corporate purposes.