POET Technologies (POET) said Tuesday it has increased its securities offering to $30 million following "significant" interest from a strategic investor.
Late last month, it was offering 5 million units at $5.00 per unit to raise $25 million. Each unit comprises of one share and one warrant, with each warrant being exercisable to buy one share at 8.32 Canadian dollars ($5.98) for a period of five years.
Late Tuesday, POET said the offering price remains unchanged. It expects to close the offering May 22.
The company said it plans to use the net proceeds for working capital and general corporate purposes.
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