#USA #Quantum Computing #stock offering #Hoboken, NJ #QCi

Quantum Computing Inc. Closes Private Placement Worth $100 Million

Quantum Computing Inc. (QCi), a pioneering company in the field of integrated photonics and quantum optics, recently announced a significant achievement in capital raising. The company has successfully entered into agreements for the purchase of 8,163,266 shares of its common stock with institutional investors at a price of $12.25 per share, leading to an impressive total of $100 million in gross proceeds. This venture is set to finalize around January 9, 2025, pending the fulfillment of standard closing conditions.

The capital acquired through this private placement is earmarked for crucial purposes, including working capital and other corporate necessities. Coupled with existing cash reserves, QCi expects these funds to provide substantial backing for the ongoing development and enhancement of its advanced technologies in photonics and quantum computing, particularly in the thin-film lithium niobate (TFLN) sector.

Chris Boehmler, CFO of QCi, stated, "This successful $100 million offering, priced at notable premiums over our previous offerings, has augmented our total gross capital raised to $190 million since November. Our financial position has been significantly strengthened, allowing us to proceed with our long-term growth strategies and invest in promising initiatives within the TFLN photonic chip market and quantum computing industry."

The role of Titan Partners Group, a division of American Capital Partners, cannot be understated as they serve as the sole placement agent for this offering. It's important to note that the shares from this placement have not been registered under the Securities Act of 1933, indicating that they cannot be sold in the United States absent proper registration or exemption. However, QCi has committed to filing a resale registration statement with the SEC to facilitate future resale of these shares.

This offering not only marks a crucial milestone for Quantum Computing Inc. but also positions the company strategically as it pivots towards the evolving markets of photonics and quantum computing. The commitment to technological advancements at room temperature and low power consumption uniquely places QCi in a favorable position.

About Quantum Computing Inc.

Founded with the vision of making quantum technology accessible, QCi focuses on delivering cost-effective quantum machines. The company’s products are designed for high-performance computing, artificial intelligence, and cybersecurity applications among other innovative uses.

As the quantum computing industry continues to expand rapidly, funded initiatives like those from QCi are pivotal. The growing interest in quantum capabilities across sectors signals a robust future for companies positioning themselves at the forefront of this technology. QCi's plans to leverage the newly raised capital to enhance its research and production capabilities ensure its readiness to meet the future demands of this high-tech sector.

Conclusion

With the closing of this private placement, Quantum Computing Inc. is set not only to fortify its financial base but also to propel its ambition of leading in the quantum computing landscape. As more organizations recognize the transformative power of quantum technologies, QCi's strategic investments signify its commitment to pioneering advancements in this competitive field.