Quantum Computing to sell 16M shares at $2.50 in registered direct offering

Quantum Computing (QUBT) announced that it has entered into a securities purchase agreement for the purchase and sale of 16,000,000 shares of common stock at a purchase price of $2.50 per share, priced at-the-market under Nasdaq rules, pursuant to a registered direct offering, resulting in gross proceeds of $40M, before deducting placement agent commissions and other offering expenses. The closing of the offering is expected to occur on or about November 18, subject to the satisfaction of customary closing conditions. The company intends to use the net proceeds from the offering for the repayment of debt, working capital, and general corporate purposes. Titan Partners Group, a division of American Capital Partners is acting as the sole placement agent for the offering. This offering is being made pursuant to an effective shelf registration statement on Form S-3 previously filed with the SEC and declared effective on November 8, 2022. The offering is made only by means of a prospectus supplement, which will be filed with the SEC.