04:47 PM EDT, 05/20/2025 (MT Newswires) -- POET Technologies ( POET ) was at last look down 1.5% in after hours Nasdaq trading Tuesday as it moved to amend the terms of a non-brokered public offering "in response to significant interest from a strategic investor and to allow for a more timely execution".

In a statement POET said this will involve, among other things, increasing the offering size to US$30 million from US$25 million and making "certain ancillary revisions to the offering structure", which will now be conducted as a non-brokered private placement. It added the offering price of C$8.32 per unit remains unchanged and represents a premium to the prevailing market price of the common shares on the TSX Venture Exchange.

In the revised offering, POET expects to issue six-million units made up of a share and a five-year warrant to buy a second share. The combined price of the units will be equal to US$5.00.

POET said it intends to use the proceeds of the offering for working capital and general corporate purposes. The corporation expects to complete the Offering on or about May 22.

POET shares were last seen down US$0.07 to US$4.60 after hours. They closed down $0.04 to $6.52 on the Toronto Stock Exchange.