Quantum Computing's (QUBT) shares fell nearly 23% in recent Monday trading after the company said it closed a registered direct offering of 16 million common shares at $2.50 per share, raising $40 million in gross proceeds.
Net proceeds will be used for debt repayment, working capital, and general corporate purposes, including paying off a secured convertible promissory note issued to Streeterville Capital, the company said in a filing.
Price: 2.40, Change: -0.70, Percent Change: -22.61
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.