QUBT Raises $900M in Private Placement, Global X Invests
Quantum Computing Inc. (QUBT) has raised a substantial amount in a recent private placement, attracting a new investment from Global X Management Company LLC. Despite a recent drop in share price, QUBT's stock has surged over the past year, reaching a market cap of $3.9 billion.
The private placement, priced at a premium to QUBT's recent offerings, brought in approximately $900 million since November 2024. Global X Management Company LLC, a global alternative asset manager, participated in this round, launching the Global X AI Semiconductor & Quantum ETF (CHPX) to invest in semiconductor and quantum technologies driving AI growth.
QUBT will sell over 26.8 million shares to large existing shareholders and the new investor. The funds raised will be used to commercialize quantum computers, pursue potential acquisitions, grow sales and engineering teams, and for working capital and other general corporate purposes. Despite the significant capital raised, QUBT's revenue for the first half of the year was only $100,000, and the company is currently operating at a loss.
Shares of QUBT traded roughly 9% lower as of 11:10 a.m. ET Friday, following a 23.00% drop at the close of trading last week. Despite the recent dip, QUBT's stock has seen a remarkable increase of over 3,000% in the past year. The company's latest private placement, oversubscribed at $500 million, indicates strong investor confidence in QUBT's quantum computing technology.
Read also:
- HLC Approves ₹4,645.60 Crore for Flood Recovery and Wetland Rejuvenation in Nine States
- Crooked House Pub's Demolition: Council Orders Rebuild, Debate on Historic Building Protections
- Shaping India's Economic Progression: Readying the Financial System for Tomorrow
- Ethiopia's Grand Dam: 15,000 Lives Lost, Water Concerns Unresolved
