- Arqit Quantum ( NASDAQ: ARQQ ) entered into a definitive securities purchase agreement with several institutional investors for the sale and purchase of 10M shares, $0.0001 par value each together with warrants to purchase up to 7.5M ordinary shares at a combined offering price of $2.00/share and accompanying warrant, in a registered direct offering.
- The warrants will have an exercise price of $2.00/ordinary share, will become exercisable on issuance date and will expire five years from the initial exercise date.
- Offer is expected to close on or about Feb.22, 2023.
- Gross proceeds are expected to be ~$20M; net proceeds to be used for enhancing international customer service capabilities in support of the growth of its recently announced channel partnerships and for general corporate purposes.
- Shares trading 33.6% down premarket.
For further details see:
Arqit Quantum to raise $20M in stock and warrants offering