POET Technologies Refreshes "At-the-Market" Public Offering in the United States

TORONTO, Sept. 01, 2023 (GLOBE NEWSWIRE) -- POET Technologies Inc. (the "Company") (TSXV: PTK; NASDAQ: POET) is pleased to announce that it has entered into an equity distribution agreement dated September 1, 2023 (the "Equity Distribution Agreement") with Craig-Hallum Capital Group LLC as sales agent (“Craig-Hallum” or the “Agent”), pursuant to which the Company has resumed its "at-the-market" equity offering program (the "ATM Program") in the United States. Pursuant to the ATM Program, the Company may, at its discretion and from time-to-time during the term of the Equity Distribution Agreement, issue and sell, through the Agent, such number of common shares of the Company as would result in aggregate gross proceeds to the Company of up to US$30 million. Sales of the Company’s common shares, if any, through the Agent will be made through "at-the-market" issuances, including, without limitation, sales made directly on the Nasdaq Stock Market in the United States. The Equity Distribution Agreement will terminate upon the issuance and sale of all of the common shares under the ATM Program, unless terminated earlier, with notice, by the Company or the Agent at any time.

The offer and sale of the common shares under the ATM Program will be made by means of a prospectus supplement dated September 1, 2023 to the Company’s base shelf prospectus dated August 18, 2023 (collectively, the "Prospectus") included in the U.S. registration statement on Form F-3 (the "Registration Statement"), which Registration Statement was declared effective by the United States Securities and Exchange Commission on August 18, 2023. The ATM Program continues the Company's relationship with Craig-Hallum as Agent and succeeds the Company's prior "at-the-market" equity sales program established on June 29, 2023 in Canada and the United States. The prior program was suspended on August 5, 2023 upon the expiry of the Company’s previous Canadian short form base shelf prospectus dated June 30, 2021 and a related U.S. registration statement on Form F-10, which included the base shelf prospectus, and the applicable equity distribution agreement pertaining to the prior program has been terminated.