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

HOBOKEN, NJ, January 7, 2025 /PRNewswire/ — Quantum 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 for the purchase and sale of 8,163,266 common shares in a private placement for a purchase price of $12.25 per share. The offering is expected to raise gross proceeds of 100 million dollarsbefore deducting the offer costs. The offering is expected to close on or about September 17th January 9, 2025subject to satisfaction of customary closing conditions.

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

“That was successful 100 million dollars The offering is priced at significant premiums to our two most recent offerings, bringing our total gross capital raised since November to 190 million dollarssaid Mr Chris BoehmlerCFO of QCi. “These funds further strengthen our financial position and enable us to execute on our multi-year growth plan, including investments in our longer-term initiatives, to capitalize on the significant opportunities in the TFLN photonic chip and quantum computing markets.”

Titan Partners Group, a division of American Capital Partners, is acting as 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 the United States lack of registration or an applicable exemption from the registration requirement. The Company has agreed to file a resale registration statement with the SEC to register the resale of the shares of common stock issued in connection with the private placement.

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

For investor relations inquiries, please contact John Nesbett at [email protected] and for PR inquiries please contact Jessica Tocco at [email protected].

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About Quantum Computing Inc.

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

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of 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 are generally identified by terms such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “intend,” “target,” “objective,” and “seek.” , “try,” “aim,” or variations of these or similar words involve risks and uncertainties because they relate to events and depend on circumstances that may occur in the future. These statements include statements regarding the expected completion of the offering and QCi’s use of the net proceeds from the offering. Prospective investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including, but not limited to, the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions associated with the offering and uncertainties inherent in QCi’s business, including the timing of commencement of production at our TFLN manufacturing facility, the timing of further development of our high-performance computing products and the outcome of ongoing collaborations and demonstration projects with certain U.S. government agencies, and that actual results may differ materially from those anticipated in such forward-looking statements. Except as required by federal securities laws, QCi undertakes no obligation to update or revise any forward-looking statements to reflect changing conditions.

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SOURCE Quantum Computing Inc.