Quantum Computing, Inc. Announces Private Placement of Common Stock for Proceeds of $100 Million

Financing and Capital Raise - Quantum Computing Inc (QCi) has entered into securities purchase agreements with institutional investors for the private placement of 8,163,266 shares of common stock at $12.25 per share, expected to generate gross proceeds of$100 million [1] - The offering is priced at a substantial premium compared to the company's two recent offerings, bringing the total gross capital raised since November to $190 million [3] - The net proceeds will be used for working capital, general corporate purposes, and to advance the development and manufacturing of photonics, thin-film lithium niobate (TFLN), and quantum technologies [2][3] Business and Technology - QCi is an integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines operating at room temperature and low power [6] - The company's portfolio includes core technologies and products with unique capabilities in high-performance computing, artificial intelligence, cybersecurity, and remote sensing applications [6] - QCi aims to capitalize on opportunities in the TFLN photonic chip and quantum computing markets through its multi-year growth plan [3] Transaction Details - The private placement is expected to close on or about January 9, 2025, subject to customary closing conditions [1] - Titan Partners Group, a division of American Capital Partners, is acting as the sole placement agent for the offering [3] - The securities issued in the 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 [4]