Zapata AI completes first phase of strategic restructure

Zapata Quantum announced significant progress on its restructuring plan, with milestones accomplished to date including the completion of a $3 million senior secured convertible bridge financing with participation from high-quality institutional investors and insiders, the repayment of half its senior secured debt, conversion of over $10 million of debt to equity and the securing of its extensive intellectual property portfolio of more than 50 patents developed over seven years as a leader in quantum computing software. “The successful completion of this first phase of our restructuring plan is a significant milestone and establishes a foundation to allow us to begin executing on our strategic growth initiatives. The completed financing strengthens our capital structure, protects our core intellectual property, and aligns our stakeholders as we enter our growth-ready stage,” said Sumit Kapur, Chief Executive Officer of Zapata Quantum. “It’s a clear vote of confidence in our strategy from high-quality investors, a number of which are highly respected investors known for their successful investments in the quantum computing sector, and who clearly appreciate the scale of the opportunity to continue our legacy as a leading pure-play hardware-agnostic quantum computing software company.”