Quantum Computing Inc, a leading innovative integrated photonics and quantum optics technology company, has announced that it has secured fifty million dollars in aggregate proceeds through concurrent offerings of common stock. The company will use the net proceeds for working capital and general corporate purposes, including advancing the development of its quantum technologies. Chris Boehmler, Chief Financial Officer of Quantum Computing Inc, expressed satisfaction with the successful pricing of these offerings, which will further bolster the company's balance sheet and strengthen its long-term investment in research and development and manufacturing capabilities. The funds will support the operational ramp-up of the company's US-based thin film lithium niobate Photonic Chip Foundry in Tempe Arizona, enabling the company to drive revenue generation and accelerate the advancement of its high-performance computing products, including its Dirac line of quantum optimization machines and reservoir computers. Titan Partners Group is acting as the sole placement agent for the offerings.
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