Record Fundraising Secured

POET Technologies (NASDAQ: POET) surged 12% Wednesday, extending a 23.5% rally on Tuesday, after announcing it had closed a $75 million private placement, the largest single investment in its history.

Shares issued: 13.6 million
Proceeds: $75 million
This fundraising pushes POET’s total cash reserves above $150 million, with no significant debt on its balance sheet.

Strategic Use of Funds

The company plans to use the proceeds to accelerate:

Corporate development initiatives
R&D scaling for optical and AI chip solutions
Light source business expansion
Strategic acquisitions
Working capital support

CEO Commentary

CEO Suresh Venkatesan stated:
“With a war chest of over $150M in cash and no significant debt, we are now able to scale up our own growth ambitions in the market for advanced AI hardware solutions.”

Market Context

POET is an optical chipmaker focusing on high-performance solutions for AI hardware and data centers.
The fundraising gives the company additional firepower to compete in the fast-growing AI infrastructure market, where optical and photonic technologies are critical for handling massive data demands.