Arqit Quantum Inc. Announces $13.6 Million Registered Direct Offering

Core Viewpoint - Arqit Quantum Inc. has entered into a definitive securities purchase agreement for the sale of 5,440,000 ordinary shares at an offering price of $2.50 per share, aiming to raise approximately $13.6 million for general corporate purposes [1][3]. Group 1: Offering Details - The offering involves a registered direct offering of 5,440,000 ordinary shares at $2.50 each, with gross proceeds expected to be around $13.6 million before expenses [1][3]. - A concurrent private placement will issue unregistered warrants to purchase up to 5,440,000 ordinary shares, exercisable under specific conditions [2]. - The offering is expected to close on or about September 30, 2024, but no later than October 9, 2024 [3]. Group 2: Warrants Information - The warrants will be exercisable for a period of one year following the exercise date, which is contingent upon certain conditions being met [2]. - The warrants will terminate five years after the date of issuance or at the end of the exercise period [2]. Group 3: Regulatory Compliance - The offering is made under a "shelf" registration statement filed with the SEC, and a prospectus supplement will be filed in relation to the offering [4]. - The unregistered warrants and shares are offered in a private placement under Section 4(a)(2) of the Securities Act, meaning they cannot be sold in the U.S. without an effective registration statement or applicable exemption [5]. Group 4: Company Overview - Arqit Quantum Inc. specializes in quantum encryption technology, providing a unique encryption software service that secures communications against current and future forms of attack, including from quantum computers [7]. - The company's technology is compatible with NSA standards and allows for the creation of computationally secure encryption keys locally on endpoint devices [7].