From documents posted on SEDAR regarding the financing.

H.C. Wainwright & Co., LLC is also an underwriter (along with Cormark) and it's purchasing 10% of the offered securities.

Use of proceeds

POET intends to use the net proceeds from the Offering for general corporate purposes, which may include, among other things, increased operating expenses from hiring of additional staff, capital equipment purchases, increased working capital requirements and further product development and sales activities, as well as potential business or intellectual property acquisitions in support of strategic growth. POET anticipates that approximately 70% of the funds raised will be devoted to product development of its optical interposer technology. The proceeds will also be used to fund further advances in packaging technology that may contribute to the cost performance of the Corporation’s sensing product line.