Quantum Computing to raise $50M via stock offering
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Contributor since / Followers
1 month ago
- Quantum Computing (NASDAQ:QUBT) entered into securities purchase agreements with institutional investors for the purchase and sale of 1.54M shares at a purchase price of $5.00 per share.
- In a concurrent private placement, the company entered into securities purchase agreements for the purchase and sale of an additional 8.46M shares at the same price.
- The offerings are expected to result in aggregate gross proceeds of $50M.
- The closing of the offerings is expected to occur on or about December 12, 2024.
- Net proceeds will be used for working capital and general corporate purposes.
- The stock price declined 6.4% on Wednesday during pre-market hours of trading.