09:30 PM EDT, 05/15/2023 (MT Newswires) -- POET Technologies Inc. (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets,
reported a net loss of US$5.3 million, or ($0.14) per share, in the first quarter of 2023 compared with a net loss $5.4 million, or ($0.15) per share, for the same period in 2022 and a net loss of $6.3 million, or ($0.17) per share, in the fourth quarter of 2022. The net loss in the first quarter of 2023 included research and development costs of $2.3 million compared to $2.2 million for the same period in 2022 and $2.7 million in the fourth quarter of 2022. The company said fluctuations in R&D "for a company of this size and this stage of growth is expected on a period-over-period basis" as it transitions from technology development to product development. "We've made significant progress on our commercialization roadmap with the recent purchase orders from world-class customers as well as our introduction of important new products," said Chairman & CEO, Dr. Suresh Venkatesan. "Our work with leading companies like Celestial AI and Beijing FeiYunYi Technology further validate the commercial viability of our optical engines and other optical interposer-based products. POET's Infinity optical chiplet solution received wide praise when demonstrated as part of a highly integrated 800G transceiver module at the OFC Conference in March. Additionally, we announced our POET Starlight products, which are packaged light engines based on our LightBar platform and an ideal solution for AI applications. The creation of this product, while significant, was a seamless modification of the POET Optical Interposer, underscoring the flexibility of our core technology and its relevance across a wide spectrum of data communications applications."
Meanwhile, AltaGas Ltd. (TSX: ALA) has completed its issue of $400 million of senior unsecured medium term notes with a coupon rate of 4.638%, maturing on May 15, 2026. It said the net proceeds resulting from the Offering will be used to pay down existing indebtedness under AltaGas' credit facility and to refinance the senior unsecured medium-term note maturing in June 2023. The Offering continues to stagger, extend and de-risk AltaGas' capital structure and tenor profile.
And InterCure Ltd. (NASDAQ: INCR and TSX: INCR.U and TASE: INCR) achieved ra ecord revenues of $40 million for the first quarter, and an annualized revenue run rate of $159 million. It cited a "strong" balance sheet with over $45 million cash and net current assets of over $72 million.
Elsewhere, Neptune Wellness Solutions Inc. (NASDAQ: NEPT), a consumer-packaged goods company focused on plant-based, sustainable and purpose-driven lifestyle brands, has closed the previously announced public offering of 12,121,212 of its common shares (or common share equivalents in lieu thereof) and accompanying warrants to purchase up to an aggregate of 12,121,212 common shares at a combined public offering price of US$0.33 per share and accompanying warrant, resulting in gross proceeds of approximately US$4 million. The warrants have an exercise price of US$0.33 per share, are immediately exercisable upon issuance and will expire five years following the date of issuance.