** Shares of photonics company Quantum Computing QUBT.O slump as much as 42.5%; last down 38.3% at $2.72
** QUBT, on Thursday, said it entered an agreement to sell 16 mln shares in a registered direct offering for $40 mln gross proceeds
** Company plans to use the proceeds for repaying debt, working capital and general corporate purposes
** Purchase price of $2.50 represents a 43% discount to stock's last close of $4.40
** Titan Partners Group, a division of American Capital Partners, acting as sole placement agent for the offering
** As of last close, QUBT shares up 381.9% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.