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$POET

7 stories mentioning POET

Every FINWIRES story that references POET, newest first.

Wire

POET Technologies Closes $400 Million Registered Direct Offering

POET Technologies (POET) said Monday it closed a $400 million registered direct offering with a single institutional investor, issuing shares and warrants to fund expansion of its photonic integrated circuit and optical engine business for AI and data center applications.The company issued about 19 million common shares and an equal number of warrants at $21 per offered security, with the warrants exercisable at $26.25 per share over three years.Proceeds will fund manufacturing expansion, R&D scaling, potential acquisitions, and faster commercialization of its optical and light source technologies as the company prepares for a transition to higher-volume manufacturing into 2027, the company added.Shares of POET Technologies were down nearly 10% in Monday trading.Price: $14.43, Change: $-1.54, Percent Change: -9.65%

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Sectors

Sector Update: Tech Stocks Fall Premarket Friday

Technology stocks were falling premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) down 2.2% and the State Street SPDR S&P Semiconductor ETF (XSD) 4.1% lower.Taiwan Semiconductor Manufacturing (TSM) plans to sell a significant stake, comprising 152 million shares or around an 8.1% interest, in Vanguard International Semiconductor, the company said. Shares of Taiwan Semiconductor Manufacturing were down more than 2% pre-bell.Sandisk (SNDK) is advising shareholders to reject an unsolicited mini-tender offer from Tutanota to purchase up to 100,000 shares of the company's common stock at $1,150 per share, the company said. Sandisk stock was down more than 2% premarket.POET Technologies (POET) shares were down more than 14% after the company reported that it swung to a Q1 loss.

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Equities

Top Premarket Decliners

Gambling.com (GAMB) shares were down 30% in Friday premarket activity after the company reported Thursday lower Q1 adjusted earnings and revenue in addition to trimming its 2026 revenue guidance.GameSquare (GAME) shares were 15% lower, a day after the company posted higher Q1 loss.Prairie Operating (PROP) stock was down 12% after the company reported overnight Q1 loss and revenue that trailed analysts' forecasts.POET Technologies (POET) stock was 11% lower after the company posted Thursday a swing to Q1 loss.

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Wire

Top Midday Gainers

Cisco (CSCO) overnight reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. It also announced restructuring plans that included lay-offs of nearly 4,000 employees.Shares advanced 12%, with intraday trading volume rising to over 54.4 million from a daily average of about 21.7 million.POET Technologies (POET) and Lumilens unveiled a partnership on Thursday to develop a new class of wafer-level photonic integration for artificial intelligence infrastructure.As part of a supply agreement, Lumilens placed an initial purchase order with POET for Electrical-Optical Interposer-based engines valued at $50 million. Orders may increase to more than $500 million over five years.Shares surged 39% as intraday trading volume soared to over 95.9 million from a daily average of roughly 27.1 million.STAAR Surgical (STAA) reported surprise Q1 earnings late Wednesday as sales more than doubled from a year ago, beating expectations.Shares jumped 11% as intraday trading volume rose to over 2.75 million from a daily average of about 1.27 million.Price: $114.79, Change: $+12.92, Percent Change: +12.68%

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Wire

POET Technologies Teams Up With Lumilens for Wafer-Level Photonic Integration Project

POET Technologies (POET) and Lumilens said Thursday they have signed a supply agreement for a partnership to develop a new class of wafer-level photonic integration for artificial intelligence infrastructure.Lumilens has placed an initial purchase order with POET for Electrical-Optical Interposer-based engines valued at $50 million, the companies said, adding that orders may increase to more than $500 million over five years.POET has granted Lumilens a warrant to buy up to about 22.9 million shares, exercisable over nine years at $8.25 per share, the companies said.The warrant is immediately exercisable for nearly 2.3 million shares, with the rest of the shares vesting and becoming exercisable in tranches linked to payments by Lumilens for purchase orders totaling up to $500 million, according to the companies.POET shares were up more than 33% in Thursday trading.Price: $19.13, Change: $+4.76, Percent Change: +33.09%

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Wire

Top Midday Decliners

POET Technologies (POET) said all the purchase orders received from Celestial AI were canceled, including those for initial production units previously disclosed.The stock plunged 47% as intraday volume topped 176.3 million shares versus the daily average of 13.7 million.Domino's Pizza (DPZ) reported fiscal Q1 earnings and revenue that trailed estimates by analysts.The stock fell 9.3% as volume topped 2.92 million shares versus the daily average of almost 960,000.Price: $7.94, Change: $-7.17, Percent Change: -47.45%

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Wire

Poet Technologies Clarifies PFIC Status

Poet Technologies (POET) said Wednesday it will make information available to US shareholders to make a qualified electing fund, or QEF, election regarding its passive foreign investment company, or PFIC, status for fiscal 2025.US shareholders who timely make a QEF election for fiscal 2025 are expected not to have current US federal income inclusions for the year. Accordingly, such an election is not expected to result in negative US tax consequences for 2025, based on the company's disclosure.The company's board also approved plans to redomicile the company in the US. The move, if completed, would eliminate the possibility of Poet being classified as a PFIC in future years, according to the statement.Shares of Poet were 2.3% higher in Wednesday afternoon trading.Price: $6.87, Change: $+0.16, Percent Change: +2.37%

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