08:56 AM EDT, 04/28/2025 (MT Newswires) -- POET Technologies ( POET ) traded 1.7% higher at last look Monday in Nasdaq pre-market trading as the company announced its plan to launch a US$25 million unit offering.

The offering will comprise 5 million units priced at US$5.00 apiece. Each unit comprises one share and one warrant. Each warrant is exercisable at $8.32 per share for five years. According to POET, the issue price is a 22% premium to its closing price on the TSXV last Friday.

The company plans to use the proceeds for working capital and general corporate purposes.

"With an already robust cash position, the completion of the current offering will be used to further establish the corporation as a leading supplier of optical engines and light sources that power connectivity in artificial intelligence systems and networks," POET said.