Quantum Computing Inc. (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, announced that it has entered into securities purchase agreements with institutional investors for the purchase and sale of 37,183,937 shares of common stock in an oversubscribed private placement priced at the market under Nasdaq rules. The offering is expected to result in gross proceeds of $750 million, before deducting offering expenses.
The Company intends to use the net proceeds from the offering to fully fund commercialization, pursue strategic acquisitions, establish volume production capabilities, expand sales and engineering personnel, working capital, and general corporate purposes.
Titan Partners Group, a division of American Capital Partners, is acting as the sole placement agent for the offering.
