Quantum Computing Inc. to redeem all Series A Preferred for $8.2M in 18 monthly payments

Quantum Computing Inc.

Aggregate cash purchase price of $8,195,000 for all outstanding Series A Convertible Preferred Stock at $5.50 per share.
Redemption in eighteen monthly payments at Company's sole discretion; may be accelerated. Waivers of rights upon each payment.
Holders waive dividend accrual, participation, and subsequent financing rights month-by-month; waivers forfeited if payment missed.
As of March 25, 2024, 82,783 shares redeemed for $455,307; 1,407,221 shares remain outstanding.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Quantum Computing Inc. entered into Redemption and Waiver Agreement with holders of Series A Convertible Preferred Stock valued at $8,195,000 (effective 2024-03-19).

Action: entry
Agreement: settlement
Counterparty: holders of Series A Convertible Preferred Stock
Value: $8,195,000
Effective: 2024-03-19

Exact text from the filing

On March 19, 2024, Quantum Computing Inc. (the “Company”) entered into a Redemption and Waiver Agreement (the “Redemption Agreement”) with the holders (the “Holders”) of its Series A Convertible Preferred Stock (the “Preferred Stock”).

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Quantum Computing Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-025537

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