Quantum Computing (NASDAQ: QUBT) (“QCi”), an innovative, integrated photonics and quantum optics technology company, recently announced its entry into securities purchase agreements with institutional investors for the purchase and sale of 1,540,000 shares of common stock, each at a price of $5.00, pursuant to a registered direct offering. In a concurrent private placement, the company entered into securities purchase agreements for the purchase and sale of an additional 8,460,000 shares of its common stock at the same price. Quantum Computing expects aggregate gross proceeds of $50 million, of which it intends to use the net 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 the development of its quantum technologies, including not only the initial buildout but also the potential expansion of its U.S.-based thin film lithium niobate (“TFLN”) Photonic Chip Foundry in Tempe, Arizona, which remains on track for completion in Q1 2025. Titan Partners Group, a division of American Capital Partners, is acting as the sole placement agent for the offerings.
To view the full press release, visit https://ibn.fm/Ezc6v
About Quantum Computing Inc.
Quantum Computing is an innovative, integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines to the world today. QCi products are designed to operate at room temperature and low power at an affordable cost. The company’s portfolio of core technology and products offers distinctive capabilities in the areas of high-performance computing, artificial intelligence, cybersecurity, as well as remote sensing applications.
About TechMediaWire
TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from TechMediaWire, text “TECH” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.TechMediaWire.com
Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer
TechMediaWire
Los Angeles, CA
www.TechMediaWire.com
310.299.1717 Office
Editor@TechMediaWire.com
TechMediaWire is powered by IBN
