MetaOptics (SGX:9MT) is planning to raise around SG$1.1 million via the placement of about 2.7 million shares at SG$0.3912 apiece, according to a Friday filing with the Singapore Exchange.
The metalens technology company will use the proceeds to support the launch of a metalens-enabled 5G smartphone, MetaPhone.
Shares of the company were down over 2% in Monday trading.