POET Technologies shares slide on $400M offering, Q1 earnings miss

The company, which designs and develops Photonic Integrated Circuits (PICs), airy sources and optical modules for the AI and information halfway market, said connected Friday that it has entered into a definitive statement to contented and merchantability astir 19 million common shares and warrants exercisable for an further astir 19 million shares to a azygous organization capitalist successful a non-brokered registered nonstop offering.

The combined terms of US$21 per portion is expected to rise astir US$400 cardinal successful gross proceeds, with warrants exercisable astatine US$26.15 implicit a three-year term.

POET said it intends to usage the proceeds to grow manufacturing infrastructure, enactment firm improvement and acquisitions, standard R&D, accelerate its airy root business, and money wide moving capital.

The woody is expected to adjacent astir May 18.

Investor sentiment was besides negatively impacted by the company’s Q1 2026 results, reported connected Thursday, wherever POET posted an adjusted nonaccomplishment of $0.08 per share, wider than expert expectations by $0.03.

Revenue of $0.5 cardinal roseate 194.1% year-over-year and exceeded expectations of astir $0.25 million.

"During the archetypal 4th of 2026, we made important advancement successful expanding POET’s strategical presumption wrong the AI and hyperscale information halfway ecosystem,” POET CEO Dr. Suresh Venkatesan said successful the net statement.

“Our partnerships with manufacture leaders specified arsenic LITEON, Lessengers and Lumilens validate the increasing request for POET’s Optical Interposer level and our quality to alteration next-generation photonic integration solutions.”