02:10 PM EST, 11/18/2024 (MT Newswires) -- Quantum Computing's ( QUBT ) shares fell nearly 23% in recent Monday trading after the company said it closed a registered direct offering of 16 million common shares at $2.50 per share, raising $40 million in gross proceeds.

Net proceeds will be used for debt repayment, working capital, and general corporate purposes, including paying off a secured convertible promissory note issued to Streeterville Capital, the company said in a filing.

Price: 2.40, Change: -0.70, Percent Change: -22.61