#United States #Quantum Computing #Hoboken #Photonic Chip Foundry #Nasdaq QUBT

Quantum Computing Inc. Raises $50 Million Through Stock Offerings

Quantum Computing Inc. (commonly referred to as QCi) has made notable strides in its drive for technological advancement by announcing two critical stock offerings. This initiative is expected to contribute an impressive $50 million in aggregate gross proceeds, positioning the company strongly in the competitive market of integrated photonics and quantum optics.

In a recent announcement made on December 10, 2024, QCi revealed details of its financial strategy as they entered into agreements to sell a total of 10 million shares of common stock at a price of $5.00 each. 1,540,000 shares will be sold under a registered direct offering, while an additional 8,460,000 shares will be available through a private placement. The closing of these offerings is tentatively scheduled for December 12, 2024, pending the usual approval processes.

The proceeds from these stock offerings are earmarked for various operational needs, particularly aimed at enhancing working capital and supporting ongoing corporate activities. As part of this financial maneuver, QCi aims to bolster its efforts in advancing quantum technologies, including the development and expansion of its U.S.-based thin-film lithium niobate (TFLN) Photonic Chip Foundry located in Tempe, Arizona. This facility is poised for completion in the first quarter of 2025 and is anticipated to play a pivotal role in the company's future innovations.

Chris Boehmler, the Chief Financial Officer of QCi, expressed optimism regarding the successful pricing of these offerings, stating that the influx of funds will significantly strengthen the company's balance sheet. He noted that these resources would not only aid in operational scaling but also in the realization of high-performance computing products, which includes their Dirac line of quantum optimization machines and reservoir computers.

The QCi initiative is being managed by Titan Partners Group, which serves as the sole placement agent for these offerings, facilitating this important transaction. The securities in the registered direct offering will be sold under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC).

It is worth noting, however, that the securities from the private placement have yet to be registered under the Securities Act of 1933. Therefore, they cannot be sold or offered for sale in the United States without proper registration or applicable exemptions.

With its eyes set firmly on the future, QCi continues to innovate within the quantum computing space, striving to provide affordable and accessible quantum machines that adhere to efficient operational standards. Their technologies are designed to function effectively at room temperature with low power consumption, making them viable for a range of applications including artificial intelligence, cybersecurity, and remote sensing.

The announcement of these stock offerings marks a significant milestone for Quantum Computing Inc. as it reinforces their commitment to tech development and places them on a steady path for growth in the rapidly evolving landscape of quantum computing. As the company gears up for the future, they remain dedicated to enhancing their manufacturing capabilities, ultimately driving revenue generation and solidifying their standing in the market.

In summary, as Quantum Computing Inc. moves forward with this substantial fundraising effort, stakeholders can anticipate exciting developments from the company, particularly regarding its innovative projects and contributions to the quantum computing sector.