Quantum Computing Inc ( QUBT ) shares are trading lower on Monday after the company announced a $750 million oversubscribed private placement.

What To Know: Quantum Computing ( QUBT ) said it entered into securities purchase agreements with institutional investors for the purchase and sale of approximately 37.18 million shares of its common stock. The company anticipates total gross proceeds of $750 million.

Quantum Computing ( QUBT ) intends to use the net proceeds from the offering to fully fund commercialization, pursue strategic acquisitions, establish volume production capabilities and expand sales and engineering personnel. The offering is expected to close on or about Wednesday.

“Total capital raised since November 2024 is now $1.64 billion, positioning QCi with the strongest balance sheet among publicly traded quantum computing companies and providing what we believe is sufficient funding to execute our current business plan through 2028,” the company said.

Quantum Computing ( QUBT ) has a consensus price target of $26.33. Recent analyst coverage from Ascendiant Capital, Lake Street and Cantor Fitzgerald suggests potential upside from current levels despite a more than 3,000% rise in shares over the past year.

Quantum Computing ( QUBT ) is set to report quarterly financial results on Nov. 5. Analysts expect a loss of 6 cents per share on revenue of $150,000 for the quarter, according to Benzinga Pro.

The company's financial track record has been bumpy as Quantum Computing ( QUBT ) missed revenue expectations last quarter and has shown mixed results in earlier periods.

The oversubscribed nature of the placement suggests strong investor demand for the company’s stock despite the dilutive impact. Shares were well off their lows for the session at last check.

QUBT Price Action: Quantum Computing ( QUBT ) shares were down 7.49% at $22.78 at the time of publication on Monday, according to Benzinga Pro.

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