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Arqit Founders Voluntarily Extend Lock-Up
Signals long-term commitment LONDON, May 12, 2022 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (the “Company”) today announces that the majority of former
About this update from Arqit Quantum Inc.
[{"type":"text","content":"Signals long-term commitment\nLONDON, May 12, 2022 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (the “Company”) today announces that the majority of former shareholders of Arqit Limited (or their transferees) and former members of Centricus Heritage, LLC, the sponsor of Centricus Acquisition Corp. have voluntarily entered into extensions of their lock-up agreements with the Company to signal their long-term support of the Company. The former shareholders of Arqit Limited and Centricus Heritage, LLC originally entered into lock-ups with the Company upon the closing of the Company’s business combination with Centricus Acquisition Corp. and Arqit Limited in September 2021, which were extended in October 2021, and were expected to expire in connection with the Company’s upcoming release of its financial results for the six months ended March 31, 2022. The extension of the lock-up agreements will restrict the transfer of the Company’s shares by the parties until the earlier to occur of (i) September 3, 2022; and (ii) such time as determined by the board of directors of the Company as being in the best interest of the parties to permit transfers, in whole or in part. All of the shareholders approached regarding lock-up extensions (holding 105,886,259 of the 108,585,000 shares subject to the original lock-ups) agreed to extend their lock-up agreements. Arqit Founder, Chairman and CEO David Williams, said: “We are pleased to see that shareholders share our conviction in the prospects of the company and chose to signal this to other stakeholders through this voluntary lock-up. We are confident that Arqit’s technology is capable of delivering significant transformation to cybersecurity in many industries and see encouraging signs of momentum with potential customers.” About Arqit Arqit supplies a unique quantum encryption Platform-as-a-Service which makes the communications links of any networked device secure against current and future forms of attack – even from a quantum computer. Arqit’s product, QuantumCloud™, enables any device to download a lightweight software agent, which can create encryption keys in partnership with any other device. The keys are computationally secure, optionally one-time use and zero trust. QuantumCloud™ can create limitless volumes of keys in limitless group sizes and can regulate the secure entrance and exit of a...