Quantum Computing (QUBT) Secures Massive $100M Private Placement for Quantum Tech Expansion

HOBOKEN, NJ, 7 January 2025 /PRNewswire/ — Quantum Computing Inc. (“QCi” or the “Company”) (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, announced today that it has entered into security purchase agreements with institutional investors for the purchase and sale of 8,163,266 shares of common stock in a directed issue at a purchase price of $12.25 stock. The offering is expected to result in gross proceeds of 100 million dollarsbefore tender costs are deducted. The closing of the offering is expected to occur on or about January 9, 2025, subject to the satisfaction of customary closing conditions.

The company intends to use the net proceeds from the offering for working capital and general corporate purposes. With the expected net proceeds, combined with existing cash reserves, the Company expects to have sufficient resources to continue to advance and expand the development and manufacturing of its photonics, thin film lithium niobate (TFLN) and quantum technologies.

“This worked out 100 million dollars the offering is priced at significant premiums to our two most recent offerings, bringing our total gross capital raised since November to 190 million dollars,” said Mr. Chris Boehmler, CFO of QCi. “These funds further strengthen our financial position and enable us to execute our multi-year growth plan, including investing in our long-term initiatives, thereby capitalizing on the significant opportunities in the TFLN photonic chip and quantum computing markets.”

Titan Partners Group, a division of American Capital Partners, is acting as the sole placement agent for the offering.

The securities issued in the private placement described above have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in USA lack of registration or an applicable exemption from the registration requirements. The Company has agreed to file a resale registration statement with the SEC to register the resale of shares of common stock issued in connection with the private placement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

For investor relations inquiries, contact John Nesbett at [email protected] and for public relations inquiries, contact Jessica Tocco at [email protected].

About Quantum Computing Inc.

Quantum Computing Inc. (Nasdaq: QUBT) is an innovative, integrated photonics and quantum optics technology company providing accessible and affordable quantum machines to the world today. QCi’s products are designed to operate at room temperature and low power at an affordable price. The company’s portfolio of core technology and products offers unique capabilities in the areas of high-performance computing, artificial intelligence and cybersecurity, as well as remote sensing applications

Forward-looking statements

This press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, generally identified by terms such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate”, “intend”, “target”, “target”, “seek”. ,” “attempt,” “intend,” or variations of these or similar words, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. These statements include statements regarding and including statements regarding the expected closing of the offering and QCi’s use of the net proceeds from the offering.Prospective investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including, without limitation, risks and uncertainties associated with market conditions and the fulfillment of customary closing conditions in connection with the offering, as well as risks and uncertainties inherent in QCi’s business, including the timing of commencement of production at our TFLN manufacturing facility, the timing of the development of our high-performance computing products and the result of ongoing collaborations and demonstration projects with certain US public authorities and that actual results may differ materially from those anticipated in such forward-looking statements. Except as required by federal securities laws, QCi undertakes no obligation to update or revise any forward-looking statements to reflect changed circumstances.

View original content to download multimedia:

SOURCE Quantum Computing Inc.