Registered Direct Offering

POET Technologies (NASDAQ: POET) secured approximately $150 million in gross proceeds through an oversubscribed registered direct offering of common shares, attracting new institutional investors. Closing is expected around October 28, 2025, pending standard conditions. POET intends to use the net proceeds for acquisitions, R&D, and operational expansion. Pro-forma cash is expected to exceed $300 million post-closing. While the offering provides financial runway, the share issuance may cause dilution.

Erayak Power Solution Group (RAYA) announced a $7 million registered direct offering, selling 107,692,307 Class A ordinary shares at $0.065 each. The offering, expected to close around August 1, 2025, includes pre-funded warrants with a $0.0001 exercise price. Craft Capital Management is the sole placement agent. This infusion of capital aims to bolster Erayak’s financial position, but the issuance of a large number of new shares will likely cause significant dilution for existing shareholders.

Netcapital (NCPL) announced a registered direct offering of 641,712 shares at $4.675 per share, aiming for $3 million in gross proceeds. A concurrent private placement offers unregistered short-term warrants for up to 641,712 shares at $4.55 each, potentially adding $2.9 million if fully exercised. Slated to close around July 17, 2025, with H.C. Wainwright & Co. as placement agent, the proceeds will repay promissory notes and fund working capital. The offering involves shareholder dilution with potential for further dilution.