Quantum Computing Inc. (QCi) (Nasdaq: QUBT), a leader in integrated photonics and quantum optics, has announced a private placement of 8,163,266 shares of common stock at 12.25 per share, raising12.25 per share, raising100 million in gross proceeds. The offering, expected to close on or around January 9, 2025, will support the company’s working capital and general corporate purposes, including the development and manufacturing of its photonics, thin-film lithium niobate (TFLN), and quantum technologies.
This funding follows QCi’s recent capital raises, bringing its total gross proceeds since November 2024 to $190 million. Most recently, the company announced it had raised $50 million last December. CFO Chris Boehmler highlighted the significance of the offering, stating that it strengthens the company’s financial position and supports its multi-year growth strategy, particularly in the TFLN photonic chip and quantum computing markets.
Titan Partners Group acted as the sole placement agent for the offering. The securities issued have not been registered under the Securities Act of 1933 and may not be sold in the U.S. without registration or an applicable exemption. QCi plans to file a resale registration statement with the SEC to register the shares for resale.
For additional details, visit QCi’s press release here.
January 8, 2025
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