Quantum Computing, Inc. announces private placement of common stock for proceeds of $100 million Investing.com

HOBOKEN, NJ, January 7, 2025 /PRNewswire/ — Quantum (NASDAQ:) Computing Inc. (“QCi” or the “Company”) (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today announced that it has entered into securities purchase agreements with institutional investors to purchase and sell 8,163,266 shares of common stock in private placement at a purchase price of $12.25 per share. The offering is expected to result in gross proceeds of 100 million dollarsbefore deducting bid costs. Closing of the offering is expected on or about January 9, 2025subject to satisfying the usual closing conditions.

The Company intends to use the net proceeds of the offering for working capital and general corporate purposes. With the expected net income, combined with existing cash reserves, the Company expects to have sufficient resources to continue to advance and expand the development and manufacturing of its photonics, thin film lithium niobate (TFLN) and quantum technologies.

“This is successful 100 million dollars the offering commands significant premiums over our two recent offerings, bringing our total gross capital raised from November to 190 million dollars,” said Mr. Chris Boehmlerfinancial director of QCi. “These funds further strengthen our financial position and enable us to execute our multi-year growth plan, including investments in our long-term initiatives, and thereby capitalize on significant opportunities in the TFLN photonic chip and quantum computing markets.”

Titan Partners Group, Dept American Capital Partners (WA:)is acting as the sole placement agent for the offering.

The securities issued in the private placement described above have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in United States absence of registration or applicable exemption from registration requirements. The company has agreed to file a resale registration statement with the code SEC for the purposes of registering the resale of ordinary shares issued in connection with the private placement.

This press release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or jurisdiction.

For investor relations inquiries, please contact John Nesbett at qci@imsinvestorrelations.com and for public relations inquiries contact Jessica Tocco at jessica.tocco@a10associates.com.

About Quantum Computing Inc.

Quantum Computing Inc. (Nasdaq: QUBT) is an innovative, integrated photonics and quantum optics technology company that provides affordable and accessible quantum machines to today’s world. QCi products are designed to operate at room temperature and low power at an affordable price. The company’s core technology and product portfolio offers unique capabilities in the areas of high-performance computing, artificial intelligence and cybersecurity, as well as remote sensing applications.

Forward-looking statements

This press release contains forward-looking statements as defined in 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 expressions such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “intend,” “goal,” “target,” “seek,” “attempt,” “aim,” or variations of these or similar words, involve risks and uncertainties because they relate to events and depend on circumstances occurring in the future. These statements include statements regarding the anticipated closing of the offering and including statements regarding QCi’s use of the net proceeds of 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, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions associated with the offering, as well as risks and uncertainties inherent in QCi’s business, including the timing of the start of production at our TFLN facility, the timeline for the progress of our high-performance computing products and the outcome of ongoing collaborations and demonstration projects with certain OUR government agencies, and that actual results may differ materially from those anticipated by such forward-looking statements. Except as required by federal securities law, QCi undertakes no obligation to update or revise any forward-looking statements to reflect changed conditions.