POET Technologies Prices $150M Direct Offering Amid Market Concerns
POET Technologies shares fell 13.20% as the stock crossed below its 5-day SMA, reflecting a negative market reaction to the company's recent capital raising efforts.
The company announced a registered direct offering priced at $150 million, involving 20,689,656 shares of common stock, which is expected to close around January 23, 2026. Despite the potential for future growth through this funding, the market sentiment remains cautious, leading to a 3.11% drop in pre-market trading. This cautious sentiment is further exacerbated by broader market conditions, as tech stocks are facing increased scrutiny.
The implications of this offering are significant for POET Technologies, as the funds are intended for corporate development and scaling up R&D. However, the immediate market reaction suggests that investors are wary of dilution and the overall economic outlook.
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