QUBT drops after announcing another equity raise, agreeing to sell 37.2 million shares with expected gross proceeds of $750 million
Quantum Computing shares were trading 9% lower early on Monday after the company announced it had reached an agreement to sell 37.2 million shares of common stock in a private placement, raising some $750 million before fees and offering expenses.
The proceeds will be used to “fully fund commercialization, pursue strategic acquisitions, establish volume production capabilities, expand sales and engineering personnel, working capital, and general corporate purposes,” per the company’s press release. The closing of the “oversubscribed” offering is expected to occur around October 8.
The latest stock sale takes advantage of the recent run-up in the shares — QUBT was up some 60% in the past month — as investors have bid up quantum computing stocks after a series of new deals with governments and affiliated agencies, with reports that the Trump administration regards the technology as an R&D budgetary priority for fiscal 2027.
This offering takes the total capital raised since November 2024 to $1.64 billion — notable dilution for shareholders of the $4.6 billion market cap company.
Per the press release, Quantum Computing is now positioned “with the strongest balance sheet among publicly traded quantum computing companies and providing what we believe is sufficient funding to execute our current business plan through 2028,” said Dr. Yuping Huang, CEO of Quantum Computing.
