POET Technologies (POET) said Thursday that it plans to complete a non-brokered public offering of 5 million units at $5 per unit for a total gross proceeds of $25 million.

The company said each unit has one share and one-half of a common share purchase warrant, with each full warrant being exercised to acquire one common share for $6 for five years from the date of issuance.

Proceeds from the offering, set to be completed on Dec. 19, will be used for working capital and general corporate purposes, the company said.

Price: 4.77, Change: -0.04, Percent Change: -0.83