Quantum Computing Inc. (QUBT) shares are experiencing a significant surge today, driven by investor enthusiasm following the company's recent announcement of successful securities purchase agreements. On December 11, 2024, QCi disclosed that it had entered into agreements with institutional investors for the purchase and sale of 1,540,000 shares of common stock at $5.00 per share through a registered direct offering. Additionally, a concurrent private placement involved the sale of 8,460,000 shares at the same price, resulting in expected gross proceeds of $50 million. The company plans to use these funds to advance its quantum technologies and expand its U.S.-based thin film lithium niobate Photonic Chip Foundry in Tempe, Arizona.
The stock is currently trading at $8.50, marking a 26.81% increase from its previous close of $6.71, and a 19.75% rise from its opening price of $7.10.