Quantum Computing Inc. closes $200 million private placement

HOBOKEN, N.J. - Quantum Computing Inc. (NASDAQ:QUBT), whose stock has delivered an impressive 2,796% return over the past year according to InvestingPro data, has closed a previously announced private placement, raising $200 million through the sale of 14,035,089 shares of common stock at $14.25 per share to institutional investors, the company announced Tuesday.

Following the transaction, the integrated photonics and quantum optics technology company now holds over $350 million in cash and cash equivalents with no debt, according to Chris Roberts, Chief Financial Officer of QCi. The company's strong financial position is reflected in its impressive current ratio of 44.69 and zero debt-to-equity ratio, as reported by InvestingPro.

The company plans to use the proceeds to accelerate commercialization efforts, pursue strategic acquisitions, and fund working capital and general corporate purposes.

"We're encouraged by the strong interest and support from major institutional investors who share our long-term vision for quantum and photonic technologies," said Dr. Yuping Huang, Interim CEO of QCi, in a statement based on the company's press release.

Titan Partners Group, a division of American Capital Partners, served as the sole placement agent for the offering.

The securities issued in the private placement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption. QCi has agreed to file a resale registration statement with the SEC to register the resale of the shares.

QCi develops quantum machines and foundry services for photonic chips based on thin-film lithium niobate, designed to operate at room temperature with low power consumption. With a market capitalization of $2.47 billion and analysts forecasting 34% revenue growth for FY2025, the company shows promising potential despite currently trading above its InvestingPro Fair Value. Discover more insights and 13 additional ProTips with an InvestingPro subscription.

In other recent news, Quantum Computing Inc. reported a surprising earnings per share (EPS) of 11 cents for Q1 2025, significantly surpassing the anticipated loss of 5 cents. However, the company's revenue was $39,000, which was below the forecasted $300,000. Additionally, Quantum Computing Inc. has raised $200 million through a private placement of common stock, enhancing its cash position to over $350 million. This capital will be used to accelerate commercialization efforts and pursue strategic acquisitions. The company is also set to join the Russell 2000 and 3000 indexes on June 30, 2025, which could increase its visibility among institutional investors. Furthermore, Quantum Computing Inc. has shipped its first commercial entangled photon source to a research institution in South Korea, marking a significant step in its quantum communications roadmap. Titan Partners Group acted as the sole placement agent for the recent stock offering. These developments collectively reflect Quantum Computing Inc.'s strategic advancements in the quantum technology sector.

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