Quantum Computing Inc. Announces Closing of Oversubscribed Private Placement of Common Stock for Proceeds of $500 Million

Core Insights - Quantum Computing Inc. has successfully closed an oversubscribed private placement, raising gross proceeds of $500 million through the sale of 26,867,276 shares of common stock priced at market value under Nasdaq rules [1][2][3] - The company plans to utilize the net proceeds to accelerate commercialization efforts, pursue strategic acquisitions, expand sales and engineering personnel, and for general corporate purposes [2][3] - Since November 2024, the company has raised approximately $900 million in gross proceeds, significantly strengthening its balance sheet and supporting its multi-year growth strategy [3][9] Financial Details - The private placement was backed by strong support from both new and existing top-tier institutional investors, and was priced at a significant premium compared to the company's four recent offerings [3] - Following the closing of this offering, the company's total cash position is approximately $850 million [9] Company Overview - Quantum Computing Inc. specializes in integrated photonics and quantum optics technology, providing accessible and affordable quantum machines and foundry services for photonic chip production [6] - The company's products are designed to operate at room temperature and low power, targeting applications in high-performance computing, artificial intelligence, cybersecurity, and remote sensing [6]