09:08 AM EDT, 05/15/2026 (MT Newswires) -- POET Technologies (POET) said Friday it has agreed to sell about 19 million shares and a warrant exercisable for the same number of shares to a single institutional investor in a registered direct offering to raise gross proceeds of $400 million.

The shares and accompanying warrant are being sold for $21 apiece, and the warrant is exercisable at $26.15 for three years from the date of issuance, the company said.

The offering is expected to close on or about Monday, according to a statement.

POET said it intends to use the net proceeds for the expansion of its manufacturing infrastructure and to support for corporate development activities, including targeted acquisitions and research and development.

POET shares fell by more than 12% in premarket trading.