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Bullboard - Stock Discussion Forum POET Technologies Ord Shs V.PTK

Alternate Symbol(s):  POET

POET Technologies Inc. is a design and development company. It offers high-speed optical engines, light source products and custom optical modules to the artificial intelligence (AI) systems market and to hyperscale data centers. Its photonic integration solutions are based on the POET Optical Interposer, a novel, patented platform that allows the integration of electronic and photonic devices... see more

TSXV:PTK - Post Discussion

POET Technologies Ord Shs > Can Maxim terminate the bought deal?
View:
Post by lscfa on Nov 04, 2023 8:21am

Can Maxim terminate the bought deal?

Termination clause in another Maxim underwritten deal.....

https://www.sec.gov/Archives/edgar/data/1820190/000121390020044619/ea132242ex1-1_vickers1.htm


9.2. Termination. The Representative shall have the right to terminate this Agreement at any time prior to any Closing Date: (i) if any domestic or international event or act or occurrence has materially disrupted, or in the Representative’s opinion will in the immediate future materially disrupt, general securities markets in the United States; or (ii) if trading on the New York Stock Exchange, the NYSE American or the Nasdaq Stock Market shall have been suspended, or minimum or maximum prices for trading shall have been fixed, or maximum ranges for prices for securities shall have been fixed, or maximum ranges for prices for securities shall have been required on the over the counter markets or by order of the Commission or any other government authority having jurisdiction; or (iii) if the United States shall have become involved in a war or an initiation or increase in major hostilities, or (iv) if a banking moratorium has been declared by a New York State or federal authority, or (v) if a moratorium on foreign exchange trading has been declared which materially adversely impacts the United States securities markets; or (vi) if the Company shall have sustained a material loss by fire, flood, accident, hurricane, earthquake, theft, sabotage or other calamity or malicious act which, whether or not such loss shall have been insured, will, in the Representative’s opinion, make it inadvisable to proceed with the delivery of the Units; or (vii) if any of the Company’s representations, warranties or covenants hereunder are breached; or (viii) if the Representative shall have become aware after the date hereof of such a material adverse change in the conditions or prospects of the Company, or such material adverse change in general market conditions, including, without limitation, as a result of terrorist activities after the date hereof, as in the Representative’s judgment would make it impracticable to proceed with the offering, sale and/or delivery of the Units or to enforce contracts made by the Underwriters for the sale of the Units.

Comment by lscfa on Nov 04, 2023 8:28am
Poet may have to let Maxim out of the bought deal due to Poet's gross incompetence in announcing such deal and tanking the stock price.
Comment by wintersun10 on Nov 04, 2023 9:11am
The question is more can Poet get out of the deal after Poet did Maxims job of tanking the share price. This has to be the sweatheart deal of the century for Maxim. They do not need to do anything but installing their shorts and collecting on it.
Comment by lscfa on Nov 04, 2023 9:31am
Get real.   The deal is not a placement deal on a best efforts basis.    It's a bought deal.  The closing price on Oct 31 was $2.70 US.  The bought deal price was probably set at $2.50 US per unit. Maxim is committed to that price unless they cry foul by Poet and terminate or Poet agrees to amend the price to something lower.  
Comment by wintersun10 on Nov 04, 2023 10:04am
The price was not set. Did you see a price? So, they can put at $1.50 and Maxim will make out like a bandit.
Comment by maestrodrumboe on Nov 04, 2023 10:05am
  Fully Agree with you... Seems like Gross manipulation..it's so apparently obvious,.. I cannot  see the offering going through without being challanged..Very stupid of Management to think they can pull this off in front of everybody's eyes.The authorities are investigating as we speak.. Sadly, irreparable harm has been done to the SP and it won't be easy to recover from  ...more  
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