Quantum (NASDAQ: QUBT) (“QCi”), an innovative, integrated photonics and quantum optics technology company, recently announced its entry into a securities purchase agreement for the purchase and sale of 16,000,000 shares of common stock, each at a purchase price of $2.50, priced at-the-market under Nasdaq rules, pursuant to a registered direct offering. Of the expected gross proceeds to QCI of $40 million, the company intends to use the net 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.
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About Quantum Computing Inc. (“QCi”)
“QCi” is an innovative, integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines to the world today. The company’s products are designed to operate at room temperature and low power at an affordable cost. QCi’s portfolio of core technology and products offer distinctive capabilities in the areas of high-performance computing, artificial intelligence, cybersecurity, as well as remote sensing applications.
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