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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Quantum Computing Inc.    QUBT

QUANTUM COMPUTING INC.

(QUBT)
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QUANTUM COMPUTING INC. : Entry into a Material Definitive Agreement, Unregistered Sale of Equity Securities (form 8-K)

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09/17/2020 | 05:03pm EDT

Item 1.01 Entry into a Material Definitive Agreement.

On September 11, 2020 (the "Closing Date"), Quantum Computing Inc., a Delaware corporation (the "Company") entered into a Stock Purchase Agreements (the "SPA") with approximately 94 accredited investors (the "Investors"), whereby the Investors purchased from the Company shares of the Company's common stock in an aggregate amount of 3,740,000 (the "Shares"), for a purchase price of $1.00 per share (the "Per Share Purchase Price") resulting in gross proceeds to the company of $3,740,000 (the "Offering").

Under the terms of the SPA, the Investors shall have piggy-back registration rights to have the shares issued pursuant to the SPA included as part of any registration of securities filed by the Company (other than pursuant to Form S-4, Form S-8, or any equivalent form).

In connection with the Offering the Company issued an advisor 100,000 shares of the Company's common stock and warrants to purchase an additional 325,000 shares of the Company's common stock, at an initial exercise price) of $3.40- per share , subject to adjustment (the "Warrants"). Warrants will expire on September 11, 2025.

Item 1.01 of this Current Report on Form 8-K contains only a brief description of the material terms of the SPA and does not purport to be a complete description of the rights and obligations of the parties thereunder, and such descriptions are qualified in their entirety by reference to the full text of the form of SPA which will be filed as an exhibit no later than with the Company's Form 10-Q for the quarter ending September 30, 2020.

Item 3.02 Unregistered Sales of Equity Securities.

The applicable information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 3.02. The Shares were not registered under the Securities Act, but were issued in reliance on the exemption from registration set forth in Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Regulation D and Regulation S thereunder.

Of the 3,740,000 shares issued: (i) 732,500 shares were issued pursuant to the exemption from registration under the Securities Act of 1933, as amended, provided by Section 4(a)(2) and/or Rule 506 of Regulation D promulgated under the Securities Act of 1933, as amended, to 19 investors each of who were an "accredited investor" within the meaning ascribed to that term in Regulation D; and (ii) 3,007,500 shares were used to 75 non-U.S. persons (as that term is defined in Regulation S of the Securities Act of 1933, as amended) in an offshore transaction relying on Regulation S and/or Section 4(a)(2) of the Securities Act of 1933, as amended.

In connection with the Offering the Company also issued an advisor 100,000 shares of the Company's common stock and warrants to purchase an additional 325,000 shares of the Company's common stock, at an initial exercise price of $3.40 per share , subject to adjustment (the "Warrants"). The Warrants will expire on September 11, 2025.

Item 3.02 of this Current Report on Form 8-K contains only a brief description of the material terms of the Warrant and does not purport to be a complete description of the rights and obligations of the parties thereunder, and such descriptions are qualified in their entirety by reference to the full text of the form of Warrant which will be filed as an exhibit no later than with the Company's Form 10-Q for the quarter ending September 30, 2020.





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Financials (USD)
Sales 2019 - - -
Net income 2019 -8,38 M - -
Net Debt 2019 1,51 M - -
P/E ratio 2019 -2,64x
Yield 2019 -
Capitalization 69,2 M 69,2 M -
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees 7
Free-Float 48,2%
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Managers
NameTitle
Robert P. Liscouski Chairman, President & Chief Executive Officer
Christopher B. Roberts Chief Financial Officer & Director
Michael Booth Chief Technology Officer
Bertrand Velge Independent Director
Justin Schreiber Independent Director
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