Quantum Computing Inc. secures $7.5M net from Streeterville convertible note at 10% interest

Quantum Computing Inc.

Issued $8.25M secured convertible promissory note with $750K OID, net proceeds $7.5M to Streeterville Capital.
Note accrues 10% interest, matures 18 months from Aug 6, 2024; convertible at 92% of lowest VWAP over 8 prior trading days.
Repayment right: up to $750K/month starting Feb 2025, payable in cash or stock if equity conditions met.
Proceeds for working capital, sales/marketing, and outfitting chip fabrication facility in Tempe, AZ.
Full asset security (incl. IP) and subsidiary guarantees; company must seek shareholder approval within 180 days due to Nasdaq cap.

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