HOBOKEN,
N.J., Nov. 14, 2024 /PRNewswire/ -- Quantum
Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an
innovative, integrated photonics and quantum optics technology
company, today announced that it has entered into a securities
purchase agreement for the purchase and sale of 16,000,000 shares
of common stock at a purchase price of $2.50 per share, priced at-the-market under
Nasdaq rules, pursuant to a registered direct offering, resulting
in gross proceeds of $40 million,
before deducting placement agent commissions and other offering
expenses. The closing of the offering is expected to occur on or
about November 18, 2024, subject to
the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the offering
for the repayment of debt, 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.
This offering is being made pursuant to an effective shelf
registration statement on Form S-3 (File No. 333-268064) previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
and declared effective on November 8,
2022. The offering is made only by means of a prospectus
supplement, which will be filed with the SEC and will be available
on the SEC's website located at http://www.sec.gov. Electronic
copies of the prospectus supplement may be obtained, when
available, by contacting Titan Partners Group LLC, a division of
American Capital Partners, LLC, 4 World Trade Center, 29th Floor,
New York, NY 10007, by phone at
(929) 833-1246 or by email at prospectus@titanpartnersgrp.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Quantum Computing Inc.
Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT)
is an innovative, integrated photonics and quantum optics
technology company that provides accessible and affordable quantum
machines to the world today. QCi products are designed to operate
at room temperature and low power at an affordable cost. The
Company's portfolio of core technology and products offer
distinctive capabilities in the areas of high-performance
computing, artificial intelligence, cybersecurity, as well as
remote sensing applications.
Forward-Looking Statements
This press release contains forward-looking statements as
defined within Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements, generally identified by
terms such as "may," "will," "expect," "believe," "anticipate,"
"estimate," "intends," "goal," "objective," "seek," "attempt," "aim
to," or variations of these or similar words, involve risks and
uncertainties because they relate to events and depend on
circumstances that will occur in the future. Those statements
include statements regarding and including statements regarding the
expected closing of the offering and QCi's use of the net proceeds
from the offering. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, including, without
limitation, the risks and uncertainties associated with market
conditions and the satisfaction of customary closing conditions
related to the offering, as well as risks and uncertainties
inherent in the QCi's business, including the timing of commencing
production at our TFLN fabrication facility, and the outcome of
ongoing collaborations and demonstration projects with certain U.S.
government agencies, and that actual results may differ materially
from those contemplated by such forward-looking statements. Except
as required by federal securities law, QCi undertakes no obligation
to update or revise forward-looking statements to reflect changed
conditions.
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SOURCE Quantum Computing Inc.
