Item 2.05 Costs Associated with Exit or Disposal Activities.
On January 30, 2023, Quantum-Si Incorporated (the "Company") committed to an
organizational restructuring designed to decrease its costs and create a more
streamlined organization to support its business. As a result, the Company is
terminating approximately 12% of its workforce, effective in the first quarter
of 2023. In connection with the restructuring, the Company currently estimates
it will incur up to $1.0 million of costs, consisting primarily of cash
severance costs and other severance benefits. The Company expects to
substantially complete the restructuring in the first quarter of 2023. The
estimates of costs and expenses that the Company expects to incur in connection
with the restructuring are subject to a number of assumptions and actual results
may differ materially. The Company may also incur additional costs not currently
contemplated due to events that may occur as a result of, or that are associated
with, the restructuring.
Safe Harbor Statement
Certain statements contained herein, regarding matters that are not historical
facts, may be forward-looking statements (as defined in the Private Securities
Litigation Reform Act of 1995). Such forward-looking statements include
statements regarding management's intentions, plans, beliefs, expectations or
forecasts for the future, including with respect to the organizational
restructuring. The reader is cautioned not to rely on these forward-looking
statements. These forward-looking statements are based on current expectations
of future events. If the underlying assumptions prove inaccurate or known or
unknown risks or uncertainties materialize, actual results could vary materially
from the expectations and projections of the Company. These risks and
uncertainties can be found in the Company's most recently filed Annual Report on
Form 10-K for the fiscal year ended December 31, 2021. Copies of these filings
are available online at www.sec.gov, www.quantum-si.com or on request from the
Company. Forward-looking statements included herein speak only as of the date
hereof and the Company undertakes no obligation to revise or update such
statements to reflect the occurrence of events or circumstances after the date
hereof.
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