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 8,163,266 shares of common stock in a private placement at a purchase price of $12.25 per share. The company expects gross proceeds of $100 million from the offering, of which it intends to use the net for working capital and general corporate purposes. With anticipated net proceeds, combined with existing cash reserves, Quantum Computing expects to have sufficient resources to continue advancing and expanding the development and manufacturing of its photonics, thin-film lithium niobate (“TFLN”), and quantum technologies. 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.
Quantum Computing is an innovative, integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines to the world today. QCi’s 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 unique capabilities in the areas of high-performance computing, artificial intelligence and cybersecurity, as well as remote sensing applications. For more information, visit the company’s website at QuantumComputingInc.com.
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