Quantum Computing sells 14M shares at $14.25 in private placement

Quantum Computing (QUBT) announced that it has entered into securities purchase agreements with institutional investors for the purchase and sale of 14,035,089 shares of common stock in a private placement at a purchase price of $14.25 per share. The offering is expected to result in gross proceeds of $200M. The closing of the offering is expected to occur on or about June 24. The company intends to use the net proceeds from the offering to “accelerate commercialization efforts, strategic acquisitions, working capital, and general corporate purposes.” Titan Partners Group, a division of American Capital Partners, is acting as the sole placement agent for the offering