Arqit Quantum Inc., a leader in quantum encryption technology, announced on September 30, 2024, that it has entered into a securities purchase agreement with certain existing shareholders, including Heritage Assets SCSP, Notion Capital Managers LLP, Carlo Calabria, and Garth Ritchie. The agreement involves the sale of 5,440,000 ordinary shares at $2.50 each, with the expectation of generating gross proceeds of approximately $13.6 million. The transaction also includes the issuance of warrants to purchase an equivalent number of ordinary shares, exercisable under specific conditions, including a share price threshold and shareholder approval for increased authorized capital. The offering is expected to close by October 9, 2024, subject to customary closing conditions. Arqit intends to use the net proceeds for general corporate purposes. The ordinary shares are offered through an effective shelf registration statement, while the warrants are offered in a private placement exempt from registration requirements. The company clarified that newly appointed CEO Andy Leaver has not been appointed to the board of directors, correcting a previous announcement.

Arqit Quantum Inc., a leader in quantum encryption technology, announced on September 30, 2024, that it has entered into a securities purchase agreement with certain existing shareholders, including Heritage Assets SCSP, Notion Capital Managers LLP, Carlo Calabria, and Garth Ritchie. The agreement involves the sale of 5,440,000 ordinary shares at $2.50 each, with the expectation of generating gross proceeds of approximately $13.6 million. The transaction also includes the issuance of warrants to purchase an equivalent number of ordinary shares, exercisable under specific conditions, including a share price threshold and shareholder approval for increased authorized capital. The offering is expected to close by October 9, 2024, subject to customary closing conditions. Arqit intends to use the net proceeds for general corporate purposes. The ordinary shares are offered through an effective shelf registration statement, while the warrants are offered in a private placement exempt from registration requirements. The company clarified that newly appointed CEO Andy Leaver has not been appointed to the board of directors, correcting a previous announcement.