MetaOptics enters up to $10 M financing arrangement with White Lion Capital
Singapore-listed semiconductor optics company MetaOptics has signed an investment agreement with Los Angeles-based White Lion Capital that could give the company access to as much as $10 million through the issuance of new ordinary shares.
Under a warrant deed announced on Monday, White Lion has the option to exercise warrants allowing MetaOptics to issue up to 40 million new shares. If fully exercised under the agreed terms, the arrangement could generate up to $10 million for the company. MetaOptics described White Lion as its first institutional investor from the United States.
The arrangement represents a potential funding facility rather than an immediate $10 million capital injection. The actual amount MetaOptics receives will depend on whether and to what extent White Lion exercises the warrants in accordance with the terms of the agreement.
Funding to support US expansion
MetaOptics plans to use any proceeds raised through the facility to support projects with US customers and its proposed front-end semiconductor manufacturing line in the United States. The initiatives form part of the company’s broader effort to scale its metalens technology business.
The company develops and manufactures optical components based on metalens technology, using semiconductor manufacturing techniques. Its technology is being developed for applications ranging from smartphones and 3D biometric systems to augmented and virtual reality devices, projectors, LiDAR and automotive sensing.
MetaOptics is traded on the Catalist board of the Singapore Exchange under the ticker 9MT. The company said Monday’s announcement should be considered alongside the related SGXNet filing issued on September 21.
MetaOptics expands metalens capabilities
Metalenses rely on nanoscale structures to control light and, in certain applications, could replace or reduce the need for conventional optical systems built from multiple curved lenses. Applying semiconductor-style manufacturing methods to the technology could help improve production scalability and integration with electronic components.
The company has also been developing its manufacturing and prototyping infrastructure across the region. TNGlobal previously reported on MetaOptics’ deployment of a direct laser writer in Taiwan to support both prototyping and production.
The financing facility with White Lion provides MetaOptics with another potential source of funding as it pursues growth in the US market. However, the final capital raised will depend on the exercise of the warrants and may therefore be lower than the facility’s $10 million headline value.
