Lucosky Brookman Represents Quantum Computing Inc. in $50 Million Public Offering
Congratulations to Quantum Computing Inc. (NASDAQ: QUBT), a leader in innovative integrated photonics and quantum optics technology, in successfully closing a $50 million registered direct offering and concurrent private placement. The company's strategic financing initiative demonstrates strong investor confidence in its groundbreaking quantum technology solutions.
The offering, which received robust institutional investor support, consisted of 1,540,000 shares of common stock at $5.00 per share in a registered direct offering, along with an additional 8,460,000 shares at the same price in a concurrent private placement.
The net proceeds will fuel QCi's ambitious development plans, including:
- Advancement of the initial buildout of its U.S.-based thin film lithium niobate (TFLN) Photonic Chip Foundry in Tempe, Arizona
- Potential expansion of manufacturing capabilities at the Tempe facility
- Enhanced research and development initiatives
- Acceleration of high-performance computing products, including the Dirac line of quantum optimization machines
- Development of innovative reservoir computers
This successful financing underscores QCi's position as a pioneering force in making quantum computing technology accessible and affordable. The company's comprehensive approach spans multiple strategic areas, including high-performance computing, artificial intelligence, cybersecurity, and remote sensing applications.
Lucosky Brookman LLP represented Quantum Computing Inc. in the transformative transaction. Titan Partners Group, a division of American Capital Partners, served as the sole placement agent for the offerings. McGuireWoods LLP was the counsel for the placement agent.
This latest achievement reinforces Quantum Computing Inc.'s commitment to advancing quantum technology solutions and positions the company for continued growth in the evolving quantum computing landscape. With this significant capital injection, QCi is well-equipped to pursue its mission of bringing accessible quantum machines to the world while maintaining its focus on room-temperature, low-power, and cost-effective operations.