POET Technologies (V.PTK) slips 10.7% on private placement news

Aiming to become the global leader in chip-scale photonic solutions by deploying Optical Interposer technology to enable the seamless integration of electronics and photonics for a broad range of vertical market applications

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POET Technologies (V.PTK) slips 10.7% on private placement news

posted on Jan 31, 2014 07:18PM

POET Technologies Inc. (TSX: V.PTK, Stock Forum) announced a non-brokered private placement

of approximately 7.7 million units at a price of $0.65 per unit for proceeds of up to $5.0 million.

The proceeds will be used to fund the company's internal and third party development efforts

necessary to complete the milestones required to enable the monetization of the POET

Technology.

POET Technologies is the developer of the POET platform for monolithic fabrication of integrated

circuit devices containing both electronic and optical elements on a single semiconductor wafer.

On Thursday, POET Technologies slipped 10.7% to 75 cents a share. The company had a market

cap of $99.5 million, based on 132.7 million shares outstanding.

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