04:31 AM EST, 11/15/2024 (MT Newswires) -- Quantum Computing ( QUBT ) said late Thursday it has agreed to a registered direct offering of 16 million shares of common stock at $2.50 per share for gross proceeds of $40 million.

The offering is expected to close Nov. 18.

The company said it intends to use net proceeds to pay down debt and for general corporate purposes.

Quantum Computing ( QUBT ) shares were down more than 24% in premarket activity Friday.

Price: 1.2600, Change: +0.01, Percent Change: +0.80