Quantum Computing, Inc. Announces Concurrent Offerings of Common Stock for Aggregate Proceeds of $50 Million Ali Guerra | usagoldmines.com

HOBOKEN, N.J., Dec. 10, 2024 /PRNewswire/ — Quantum Computing Inc. (“QCi” or the “Firm”) (Nasdaq: QUBT), an modern, built-in photonics and quantum optics know-how firm, right now introduced that it has entered into securities buy agreements with institutional traders for the acquisition and sale of 1,540,000 shares of widespread inventory at a purchase order worth of $5.00 per share, pursuant to a registered direct providing. In a concurrent personal placement, the Firm entered into securities buy agreements for the acquisition and sale of a further 8,460,000 shares of its widespread inventory on the identical worth. The choices are anticipated to lead to mixture gross proceeds of $50 million, earlier than deducting providing bills. The closing of the choices is predicted to happen on or about December 12, 2024, topic to the satisfaction of customary closing situations.

The Firm intends to make use of the web proceeds from the choices for working capital and normal company functions. With the anticipated web proceeds, mixed with present money reserves, the Firm expects to have ample sources to proceed advancing the event of its quantum applied sciences, together with not solely the preliminary buildout but additionally the potential growth of its U.S.-based skinny movie lithium niobate (TFLN) Photonic Chip Foundry in Tempe, Arizona, which stays on monitor for completion in Q1 2025.

“We’re happy to have efficiently priced these choices, which, when closed, will additional bolster the Firm’s steadiness sheet and strengthen our long-term funding in R&D and manufacturing capabilities,” stated Mr. Chris Boehmler, Chief Monetary Officer (CFO) of QCi. “These extra funds will additional help the operational ramp-up of our TFLN Photonic Chip Foundry in Tempe, Arizona, enabling the Firm to drive income era, scale manufacturing, and speed up the development of our high-performance computing merchandise, together with our Dirac line of quantum optimization machines and our reservoir computer systems.”

Titan Companions Group, a division of American Capital Companions, is performing as the only placement agent for the choices.

The securities within the registered direct providing described above are being supplied pursuant to an efficient shelf registration assertion on Kind S-3 (File No. 333-268064) beforehand filed with the U.S. Securities and Trade Fee (the “SEC”) and declared efficient on November 8, 2022. The providing of securities within the registered direct providing is made solely by way of a prospectus, and features a prospectus complement, forming part of the efficient registration assertion. A closing prospectus complement and accompanying prospectus associated to the registered direct providing shall be filed with the SEC and shall be out there on the SEC’s web site positioned at http://www.sec.gov. Digital copies of the ultimate prospectus complement and accompanying prospectus could also be obtained, when out there, by contacting Titan Companions Group LLC, a division of American Capital Companions, LLC, 4 World Commerce Middle, twenty ninth Ground, New York, NY 10007, by cellphone at (929) 833-1246 or by e mail at [email protected]. 

The securities issued within the concurrent personal placement described above haven’t been registered underneath the Securities Act of 1933, as amended, and will not be supplied or offered in the USA absent registration or an relevant exemption from registration necessities. The Firm has agreed to file a resale registration assertion with the SEC for functions of registering the resale of the shares of widespread inventory issued in reference to the concurrent personal placement.

This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase nor shall there be any sale of those securities in any state or jurisdiction through which such supply, solicitation or sale could be illegal previous to registration or qualification underneath the securities legal guidelines of any such state or jurisdiction.

About Quantum Computing Inc.

Quantum Computing Inc. (“QCi” or the “Firm”) (Nasdaq: QUBT) is an modern, built-in photonics and quantum optics know-how firm that gives accessible and reasonably priced quantum machines to the world right now. QCi merchandise are designed to function at room temperature and low energy at an reasonably priced value. The Firm’s portfolio of core know-how and merchandise supply distinctive capabilities within the areas of high-performance computing, synthetic intelligence, cybersecurity, in addition to distant sensing functions.

Ahead-Trying Statements

This press launch accommodates forward-looking statements as outlined inside Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended. These forward-looking statements, typically recognized by phrases equivalent to “might,” “will,” “count on,” “imagine,” “anticipate,” “estimate,” “intends,” “objective,” “goal,” “search,” “try,” “intention to,” or variations of those or comparable phrases, contain dangers and uncertainties as a result of they relate to occasions and depend upon circumstances that may happen sooner or later. These statements embrace statements concerning and together with statements concerning the anticipated closing of the providing and QCi’s use of the web proceeds from the providing. Potential traders are cautioned that any such forward-looking statements aren’t ensures of future efficiency and contain dangers and uncertainties, together with, with out limitation, the dangers and uncertainties related to market situations and the satisfaction of customary closing situations associated to the providing, in addition to dangers and uncertainties inherent within the QCi’s enterprise, together with the timing of commencing manufacturing at our TFLN fabrication facility, the timing of the development of our high-performance computing merchandise (together with our Dirac line of quantum optimization machines and our reservoir computer systems), and the end result of ongoing collaborations and demonstration tasks with sure U.S. authorities companies, and that precise outcomes might differ materially from these contemplated by such forward-looking statements. Besides as required by federal securities legislation, QCi undertakes no obligation to replace or revise forward-looking statements to replicate modified situations.

SOURCE Quantum Computing Inc.

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