Quantum Computing Inc. (QCi) announced on November 14, 2024, that it has entered into a securities purchase agreement for a registered direct offering. The offering involves the purchase and sale of 16,000,000 shares of common stock at a price of $2.50 per share, priced at-the-market under Nasdaq rules.
This offering is expected to result in gross proceeds of $40 million, before deducting placement agent commissions and other offering expenses. The closing of the offering was anticipated to occur on or about November 18, 2024, subject to customary closing conditions.
The company intends to use the net proceeds from this offering for the repayment of debt, working capital, and general corporate purposes. This capital raise is crucial for QCi's liquidity and its ability to fund ongoing operations and strategic initiatives.
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