Quantum Computing (QUBT) Ends 3-Day Run as Firm Kicks Off $750-Million Share Sale

We recently published 10 Stocks Investors Are Dumping. Quantum Computing Inc. (NASDAQ:QUBT) is one of the worst performers on Monday.

Quantum Computing snapped a three-day winning streak on Monday, losing 10 percent to close at $22.16 apiece, as investors unloaded portfolios following a $750 million share sale that could dilute existing shareholdings.

In a statement, Quantum Computing Inc. (NASDAQ:QUBT) said it entered into a securities purchase agreement with institutional investors for the sale of more than 37 million common shares priced at the market.

The offer is expected to close on Wednesday, October 8, subject to closing conditions.

Quantum Computing Inc. (NASDAQ:QUBT) said it intends to use the net proceeds to fully finance commercialization efforts, pursue strategic acquisitions, establish volume production capabilities, expand sales and engineering personnel, as well as for working capital and other general corporate purposes.

“Total capital raised since November 2024 is now $1.64 billion, positioning QCi with the strongest balance sheet among publicly traded quantum computing companies and providing what we believe is sufficient funding to execute our current business plan through 2028. The support from our existing investors through this recent raise is validation of our vision, technology, and roadmap,” said Quantum Computing Inc. (NASDAQ:QUBT) CEO Yuping Huang.

“Our focus now shifts to expedite the transition from a quantum technology innovation company to a leading quantum hardware manufacturer, progressing our mission of putting quantum into the hands of people,” he added.

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Disclosure: None. This article is originally published at Insider Monkey.