Business
Quantum Computing Inc. Announces Closing of Private Placement of Common Stock for Proceeds of $200 Million
The offering was led by several preeminent global investment firmsCompany total cash position exceeds $350 million following closingHOBOKEN, N.J., June 24,
About this update from Quantum Computing Inc.
[{"type":"text","content":"The offering was led by several preeminent global investment firmsCompany total cash position exceeds $350 million following closingHOBOKEN, N.J., June 24, 2025 /PRNewswire/ -- Quantum Computing Inc. (\"QCi\" or the \"Company\") (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today announced that it has closed its previously announced securities purchase agreements with institutional investors for the purchase and sale of 14,035,089 shares of common stock in a private placement at a purchase price of $14.25 per share, for proceeds of $200 million before deducting expenses.\nDr. Yuping Huang, Interim CEO of QCi, commented, \"We're encouraged by the strong interest and support from major institutional investors who share our long-term vision for quantum and photonic technologies. This capital raise reflects growing confidence in QCi's strategy, market potential, and differentiated technology platform.\"\nChris Roberts, Chief Financial Officer of QCi, stated, \"Following the successful close of this offering, we now have over $350 million in cash and cash equivalents and no debt. This provides us with additional financial resources to fund our product roadmap, accelerate commercialization, and pursue strategic opportunities for our quantum machines and thin-film lithium niobate foundry services.\"\nThe Company intends to use the net proceeds from the offering to accelerate commercialization efforts, strategic acquisitions, working capital, and general corporate purposes.\nTitan Partners Group, a division of American Capital Partners, acted as the sole placement agent for the offering.\nThe securities issued in the private placement described above have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Company has agreed to file a resale registration statement with the SEC for purposes of registering the resale of the shares of common stock issued in connection with the private placement.\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or...