Singapore-listed semiconductor optics company MetaOptics has entered an investment arrangement with Los Angeles-based White Lion Capital that could provide up to $10 million in financing through the issuance of new shares.
Under a warrant deed announced Monday, White Lion may exercise warrants that would allow MetaOptics to issue up to 40 million new ordinary shares and raise up to $10 million. The company described White Lion as its first U.S. institutional investor.
The structure is an investment facility rather than a guaranteed immediate $10 million cash injection: the amount raised depends on the holder exercising the warrants under the agreed terms.
Capital earmarked for US expansion
MetaOptics said potential proceeds would support U.S. customer projects and its plan to establish a front-end semiconductor manufacturing line in the United States as it expands its metalens technology business.
The company designs and manufactures metalens-based optical components using semiconductor production processes. Its products and development work span applications including smartphones, three-dimensional biometrics, augmented and virtual reality devices, projectors, LiDAR and automotive sensing.
MetaOptics is listed on the Catalist board of the Singapore Exchange under ticker 9MT. The company said its announcement should be read together with a corresponding SGXNet filing released on September 21.
Metalens technology moves toward scale
Metalenses use nanostructured surfaces to manipulate light and can potentially replace or reduce conventional stacks of curved optical elements in some applications. Moving such designs toward semiconductor-style manufacturing is intended to improve scalability and integration with electronics.
MetaOptics has been expanding its manufacturing and prototyping capabilities in the region. TNGlobal previously covered the company’s announcement that it had deployed a direct laser writer in Taiwan to support prototyping and production.
The White Lion facility gives the company an additional potential source of capital as it attempts to expand in the U.S. market, but the ultimate amount raised will depend on warrant exercises rather than the headline facility size alone.
MetaOptics Deploys Direct Laser Writer in Taiwan to Power Prototyping and Production