Quantum Computing Inc. Strengthens Financial Foundation with $50 Million Offering
Quantum Computing Inc. (QCi), a trailblazer in accessible quantum technology, announced concurrent offerings of common stock expected to raise $50 million. These funds will fuel the continued advancement of QCi’s proprietary quantum technologies, including the expansion of its state-of-the-art TFLN Photonic Chip Foundry.
QCi sold 1,540,000 shares in a registered direct offering, pricing shares at $5.00 per share. Concurrently, the company entered into agreements to sell an additional 8,460,000 shares of common stock at the same price.
"We are pleased to successfully price |these offerings, which, upon closing will further bolster the Company’s balance sheet and strengthen our long-term investment in R&D and manufacturing capabilities," stated Chris Boehmler, CFO of QCi. "These additions will boost our TFLN Photonic Chip Foundry.
This facility, strategically located in Tempe, Arizona, is on track for completion in Q1 2025. The offerings will not only enable us to drive revenue generation and scale production, but also accelerate the advancement of our high-performance computing products, including our Dirac line of quantum optimization machines and our reservoir computers.”
Titan Partners Group, a division of American Capital Partners, acted as sole placement agent.
Driving Innovations in Quantum Technology
More than a capital injection, these offerings represent a vote of confidence in QCi’s vision to democratize quantum technology, making cutting-edge computing solutions accessible for a wider range of applications. The funds will support QCi’s ambitious goals. These include finalizing its revolutionary phage-based TFLN fabrication facility.
The new manufacturing facility will unlock groundbreaking applications in areas like artificial intelligence, cyber security, and remote sensing applications.
Commitment to Innovation
Beyond expansion, the investment emphasizes QCi’s dedication to research and development.
“We are committed to pushing the boundaries of what’s possible with quantum computing," continued Boehmler. The demonstrably
The company plans to update existing equity analysts with performance to reflect these changes and, as always, QCi will provide open
Importance of TFLN Photonic Chip Foundry
The Tempe-based facility, representing a substantial investment, positions QCi to:
- Scale production: Meet increasing demand by producing advanced quantum computing components at scale.
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expand markets:
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- _Accelerate research: Devote
resources to explore new frontiers in quantum computations.
These offerings demonstrate QCi’s commitment to its ambitious journey of revolutionizing the field of quantum computing. As discoveries abound, QCi emerges as a leader, making accessible and.
