Quantum Computing to sell 8.163M shares at $12.25 in private placement

Quantum Computing (QUBT) announced that it has entered into securities purchase agreements with institutional investors for the purchase and sale of 8,163,266 shares of common stock in a private placement at a purchase price of $12.25 per share. The offering is expected to result in gross proceeds of $100M, before deducting offering expenses. The closing of the offering is expected to occur on or about January 9, 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 anticipated net proceeds, combined with existing cash reserves, the company expects to have sufficient resources to continue advancing and expanding the development and manufacturing of its photonics, thin-film lithium niobate, and quantum technologies.