"As part of the closing of the DenseLight acquisition on May 11, 2016, certain of the sellers agreed to escrow 20%
of the POET shares issued as consideration to satisfy any claims or liabilities that may arise relating to breaches
of representations and warranties set forth in the share purchase agreement. Subsequent to the end of the
period, in connection with the Share Purchase Agreement relating to DenseLight, the Company determined that a claim should be made against the shares held in escrow related to certain warranties given by the Sellers. The number of escrowed shares which may be affected was 2,722,230, which had a value of US$2,100,000 at the
time of the acquisition. The Company is in the process of documenting the claims and determining the effect on
the value of the transaction."
Am I reading this wrong, or does this mean POET wasn't happy when they got "a better look under the hood" and are now seeking restitution from the Denselight deal?
