Quantum Computing Inc. (QCi) announced on December 10, 2024, that it has entered into securities purchase agreements for concurrent offerings of common stock. This includes a registered direct offering of 1,540,000 shares at $5.00 per share and a private placement of an additional 8,460,000 shares at the same price.
These offerings are expected to result in aggregate gross proceeds of $50 million, before deducting offering expenses. The closing of the offerings was anticipated to occur on or about December 12, 2024, subject to customary closing conditions.
QCi intends to use the net proceeds for working capital and general corporate purposes, including the initial buildout and potential expansion of its U.S.-based thin film lithium niobate (TFLN) Photonic Chip Foundry in Tempe, Arizona. CFO Chris Boehmler stated that these funds will bolster the balance sheet and support R&D and manufacturing capabilities, enabling revenue generation and accelerated advancement of high-performance computing products.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.