- Quantum Computing Inc. (QUBT, Financial) raises $200 million through a private placement.
- The company's cash reserves now exceed $350 million with no debt.
- Funds will be used to accelerate commercialization and pursue strategic acquisitions.
Quantum Computing Inc. (QUBT), an innovative technology company specializing in integrated photonics and quantum optics, has successfully concluded a private placement, raising $200 million. This capital was secured through the sale of 14,035,089 shares of common stock, priced at $14.25 per share, primarily to institutional investors.
As a result of this transaction, QCi's total cash position now stands at over $350 million without any debt, providing the company with a robust financial foundation to support its strategic objectives. The company plans to utilize the proceeds to accelerate its commercialization efforts, explore strategic acquisitions, and fund general corporate purposes and working capital.
Titan Partners Group, a division of American Capital Partners, acted as the sole placement agent for the offering. The securities issued in this private placement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.
Dr. Yuping Huang, Interim CEO of QCi, noted the strong institutional interest in their technology, reflecting confidence in their market potential and strategic direction. Chris Roberts, Chief Financial Officer, emphasized that the funding will enhance their financial resources to accelerate the development and commercialization of quantum technologies and thin-film lithium niobate foundry services.
