secwatch.observer — SEC 8-K summary
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Issuer:     Quantum Computing Inc. (QUBT)
CIK:        0001758009
Form:       8-K
Filed at:   2024-08-12T23:59:59+00:00
Accession:  0001213900-24-067740
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1758009/000121390024067740/0001213900-24-067740-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1758009/000121390024067740/ea0211139-8k_quantum.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-067740

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