11:31 AM EDT, 04/28/2025 (MT Newswires) -- Poet Technologies ( POET ) shares were up 4.2% in recent Monday trading after the company said it plans to sell 5 million units at $5 apiece in a public offering for gross proceeds of $25 million.

Each unit comprises one common share and one common share purchase warrant, with each warrant allowing the holder to buy one common share for 8.32 Canadian dollars ($6.01), exercisable over five years, the company said.

Net proceeds will be used for working capital and general corporate needs, the company said.

A single Canadian institutional investor is expected to fully subscribe to the offering, the company added.

Price: 4.28, Change: +0.17, Percent Change: +4.23