share_log

Quantum Computing | 8-K: Current report

SEC ·  Dec 12, 2024 23:01

Summary by Futu AI

Quantum Computing Inc. has secured $50M through concurrent stock offerings, comprising a registered direct offering of 1.54M shares and a private placement of 8.46M shares, both priced at $5.00 per share. The offerings are expected to close around December 12, 2024, with Titan Partners Group acting as the sole placement agent.The proceeds will primarily support the company's TFLN Photonic Chip Foundry development in Tempe, Arizona, scheduled for completion in Q1 2025. The funding will enhance R&D capabilities, drive revenue generation, and accelerate the advancement of high-performance computing products, including the Dirac quantum optimization machines and reservoir computers.The company's directors and executive officers have agreed to a 60-day lock-up period following the closing. Additionally, the company has committed to filing a registration statement for the resale of private placement shares by December 27, 2024, and will pay the placement agent a 7% cash fee plus 500,000 five-year warrants exercisable at $5.75 per share.
Quantum Computing Inc. has secured $50M through concurrent stock offerings, comprising a registered direct offering of 1.54M shares and a private placement of 8.46M shares, both priced at $5.00 per share. The offerings are expected to close around December 12, 2024, with Titan Partners Group acting as the sole placement agent.The proceeds will primarily support the company's TFLN Photonic Chip Foundry development in Tempe, Arizona, scheduled for completion in Q1 2025. The funding will enhance R&D capabilities, drive revenue generation, and accelerate the advancement of high-performance computing products, including the Dirac quantum optimization machines and reservoir computers.The company's directors and executive officers have agreed to a 60-day lock-up period following the closing. Additionally, the company has committed to filing a registration statement for the resale of private placement shares by December 27, 2024, and will pay the placement agent a 7% cash fee plus 500,000 five-year warrants exercisable at $5.75 per share.

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.