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POET Technologies Stock Is Sliding Today: What's Happening?
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POET Technologies Stock Is Sliding Today: What's Happening?
Nov 27, 2024 6:28 AM

POET Technologies Inc ( POET ) shares are trading lower Wednesday after the company announced a $25 million registered direct offering.

What Happened: After the market close on Tuesday, POET Technologies ( POET ) announced that it expects to issue 5.55 million common shares and warrants exercisable for 2.78 million common shares.

The company said the combined price of one common share and the accompanying warrant will be $4.50. The warrant will be exercisable at $6 per common share for a period of five years from the date of issuance.

The offering is expected to close on or about Dec. 3. The company expects to raise gross proceeds of $25 million and will use any net proceeds for working capital related to its recently announced plans to expand assembly operations into Malaysia.

POET Technologies ( POET ) offers high-speed optical engines, light source products and custom optical modules to the AI systems market and to hyperscale data centers.

See Also: Dragonfly Energy Sees Over 10% Decline As New Smart Lithium Batteries Launch Amid Black Friday Event

How To Buy POET Stock

By now you're likely curious about how to participate in the market for POET Technologies ( POET ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

POET Price Action: POET shares were down 5.14% at $4.79 at the time of writing, according to Benzinga Pro.

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