Overview
- POET said Thursday it signed a multi‑year supply and joint development pact with Lumilens that opens with a $50 million order and outlines more than $500 million in potential purchases over five years.
- The pact includes a nine‑year warrant for up to 22.92 million POET shares at $8.25, with most of the warrant vesting only if Lumilens places additional orders.
- Following Thursday’s announcement, POET shares jumped more than 24% in premarket trading and closed up 43% at a record high, with further gains after hours.
- The company disclosed Friday a registered direct offering of about 19 million shares plus warrants to raise roughly $400 million at $21 per unit, with the warrants exercisable at $26.15, and the stock slipped on dilution concerns.
- POET also reported Q1 revenue of $503,389 and a GAAP net loss of $12.3 million, and said its optical interposer is designed to move data with light instead of copper to ease GPU interconnect bottlenecks, with any Lumilens revenue contingent on development, qualification, and manufacturing scale.