Replies to post #224063 on Lightwave Logic Inc (LWLG)

[x993231]

Yes POET has a significant warrant overhang, I'm not sure if they can exercise at anytime though.

October 2025 private placement:
Warrant amount: A warrant for up to 13,636,364 common shares was issued as part of a $75 million private placement with a single institutional investor.
Exercise price: The exercise price is C$9.78 per share. ($7.00 US)

So at $9.00 they could sell 10,000,000 exercise and own 12,800,000 shares where $7.10 per share is break even on the move. That is why warrants are not always the best route.

December 2024 registered direct offering:
Warrant amount: Warrants for 2,777,778 common shares were issued in conjunction with a $25 million offering.
Exercise price: The exercise price is $6.00 per share.
Expiration date: The warrant is valid for five years from issuance, expiring in December 2029.

So at $9.00 they could sell 100,000 exercise and own 150,000 shares.

[spartex]

Thanks KC for adding that color, as I really don't pay any attention to POET until I noticed it was trending (pre-market volume) on my yahoo finance symbol box, and hence I saw this bigga dilution as their never ending solution.

Oh, then in my email box just now from Optical Connections News, NLM shows up in a little article that I believe is a rehash of their previous PR, right? More promotion I guess to see their VC money flowing in...(cut and paste w/ link below text). 🤭

NLM proves 200G silicon organic hybrid photonic performance
Created October 1, 2025Applications and Research

NLM Photonics has revealed that its silicon-organic hybrid (SOH) photonic integrated circuits (PICs) have achieved 224Gbit/s per channel data transmission in validation tests.

According to the company, these results represent real-world improvements in 200G performance and pave the way for 400G in a commercially available silicon photonics platform. Testing of NLM’s SOH PICs – capable of 1.6 terabit (1.6T) and 3.2 terabit (3.2T) performance – took place at its testing lab, in collaboration with Keysight Technologies.

NLM’s testing confirmed multiple industry firsts, including a world record SOH modulation efficiency of 0.31 V-mm on the best single channel, representing a 10- to 15-times improvement over traditional silicon photonic modulators. In bandwidth testing performed by VLC Photonics, the technology delivered 3 dB bandwidths exceeding 80 GHz for 200G components and up to 110 GHz for 400G components.

“The demand from AI data centres for high bandwidth and lower power, while not breaking the bank, is creating unprecedented challenges for the photonics industry,” said NLM Photonics CEO Brad Booth “Traditional photonic platforms are severely challenged to meet next-gen demands. Our 1.6T and 3.2T SOH PICs demonstrate the ability of NLM’s solutions to permit silicon photonic platforms to continue to scale to higher bandwidths while reducing a PIC’s footprint by at least 40 percent.”

The PICs tested were designed in collaboration with Enosemi and fabricated on Advanced Micro Foundry’s (AMF) O-band GP v4.5 200mm silicon photonics platform to specifications developed by Centera Photonics. The total area for the 1.6T SOH PIC is only 17 mm² for the complete 8-channel system: significantly more compact than competing technologies


https://opticalconnectionsnews.com/2025/10/nlm-proves-200g-silicon-organic-hybrid-photonic-performance/?utm_source=OpConsNewsletter&utm_medium=Email&utm_campaign=September2025&utm_term=ApplicationsResearch

[prototype_101]

KCC said (of Poet financing) MMCAP likely has already recouped most of their $75 million investment this week and will hang onto the free warrants.

that's EXACTLY right, and the YouTube video pumps worked perfectly for them too, you have to wonder if MMCAP paid for those pump videos?

ok so let's do the math for the $75 million Poet just raised in a PP

13.7 Million shares
13.7 Million Warrants (to buy a share later)

fully diluted impact 27.4 million shares

$75 Million raised divided by 13.7 million shares equals a price to MMCAP of $5.47 per share

BUT, ON A FULLY DILUTED BASIS INCLUDING THE 1 FOR 1 WARRANTS ISSUED

$75 Million raised divided by 27.4 million shares equals a price to MMCAP of $2.74 per share

GREAT DEAL FOR MMCAP!!!

Now on the flipside for as much sh!t that has been thrown at JM over the years for using LPC agreements since 2011 the amount of dilution has been far less burdensome to shareholders