HOBOKEN, N.J., January 07, 2025 -- Quantum Computing Inc. ("QCi" or the "Company"), 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 shares of common stock in a private placement at a purchase price of $12.25 per share. The offering is expected to result in gross proceeds of $100 million, before deducting offering expenses. The closing of the offering is expected to occur on or about January 9, 2025, subject to the 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 anticipated net proceeds, combined with existing cash reserves, the Company expects to have sufficient resources to continue advancing and expanding the development and manufacturing of its photonics, thin-film lithium niobate (TFLN), and quantum technologies.

"This successful $100 million offering is priced at substantial premiums to our two recent offerings, bringing our total gross capital raised since November to $190 million," said Mr. Chris Boehmler, CFO of QCi. "These funds further fortify our financial position and enable us to execute our multi-year growth plan, including investment in our longer-term initiatives, and thereby capitalize on the considerable opportunities in the TFLN photonic chip and quantum computing markets."

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