Quantum Computing, Inc. Secures $100 Million in Stock Offering

Quantum Computing, Inc. Success in Recent Stock Offering

Quantum Computing Inc. (NASDAQ: QUBT) has recently concluded a significant private placement which raised a total of $100 million. This funding comes from the sale of 8,163,266 shares of common stock, priced at $12.25 per share. This initiative is targeted at institutional investors, showcasing the company’s capability in attracting substantial capital.

Strategic Use of Proceeds

The funds generated from this stock placement will primarily be utilized for working capital and a variety of corporate needs. Quantum Computing Inc. has emphasized that these financial resources, combined with their present cash reserves, will facilitate the ongoing development of their advanced technologies in photonics and quantum optics.

Growth Potential and Future Plans

Chris Boehmler, the CFO of Quantum Computing Inc., highlighted the achievement of this funding round, which adds to the $90 million raised in prior financing efforts since November, bringing the total to $190 million. The influx of capital strengthens the company’s financial stability and supports their strategic growth plans in the quantum computing sector.

Investments in Quantum Technologies

Quantum Computing Inc.’s focus lies in innovation within the quantum technology arena, with a particular emphasis on developing their thin-film lithium niobate (TFLN) technologies. These advancements are not only gaining traction in the market but are expected to create numerous opportunities in areas like artificial intelligence, cybersecurity, and high-performance computing.

Details of the Offering

The private placement underlines the growing interest and demand for quantum technology solutions. The closing date for this offering is anticipated shortly, with the company fulfilling standard customary closing conditions.

Role of Placement Agents

Titan Partners Group, a division of American Capital Partners, has been appointed as the sole placement agent for this offering. Their involvement reflects the high level of confidence in Quantum Computing Inc.'s operations and growth trajectory.

About Quantum Computing, Inc.

Quantum Computing Inc. is at the forefront of integrating photonics and quantum optics technology, enabling the creation of quantum machines that operate efficiently and affordably. Their products are designed for room temperature usage while delivering high performance, positioning them favorably in the realm of advanced computing and technology solutions.

Contact for Investor Inquiries

For any inquiries regarding investor relations, stakeholders can reach John Nesbett via email. For public relations concerns, Jessica Tocco is the designated contact.

Frequently Asked Questions

What is the purpose of Quantum Computing, Inc.'s recent capital raise?

The recent capital raised will be used for working capital and advancing the company's development and manufacturing initiatives in quantum technologies.

How much did Quantum Computing, Inc. raise in total from this offering?

The company successfully raised a total of $100 million in this private stock placement.

Who managed the recent stock offering for Quantum Computing, Inc.?

Titan Partners Group acted as the sole placement agent for the stock offering.

What are the potential markets Quantum Computing, Inc. is targeting?

The company is focusing on high-performance computing, artificial intelligence, cybersecurity, and remote sensing applications, utilizing their innovative technologies.

What does Quantum Computing, Inc. specialize in?

Quantum Computing, Inc. specializes in integrated photonics and quantum optics technology, aiming to create accessible and affordable quantum machines.

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