Poet Technologies Inc (POET)

[mackwheaton]

POET announced the current offering on Monday, December 11, it opened the day at $1.05 but closed at the announced offering price of 90 cents.

Knowing that a $1+ threshold is required to maintain a NASDAQ listing, why did the company choose 90 cents USD as its offering price, including a warrant? The average closing share price was $1.018 cents the prior week, with most of the week spent hovering in the $1.05 range.

They could have placed the offering at $1.01, with a warrant thrown in, to try to maintain the $1 minimum SP, why choose a price well below the $1 mark that virtually guaranteed the share price would be sub $1 for the entire time of the offering? Who approves these decisions?