Quantum Computing Inc. raises $50M via registered direct offering and private placement

Quantum Computing Inc.

Aggregate gross proceeds of $50M from sale of 10M shares at $5.00 per share; closing expected on December 12, 2024.
Net proceeds to fund working capital, R&D, and expansion of TFLN Photonic Chip Foundry in Tempe, AZ (on track for Q1 2025).
Titan Partners Group acted as placement agent; received 7% cash fee and 500,000 five-year warrants at $5.75 exercise price.
Annual meeting re-elected all director nominees; BPM LLP ratified as independent auditor for fiscal 2024.
Board committees appointed post-meeting: Audit (Turmelle chair), Compensation (Fagenson chair), Nominating (Weimer chair), Risk (Shabani chair).

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