04:36 PM EST, 01/03/2025 (MT Newswires) -- Quantum-Si (QSI) shares tumbled over 8% in Friday's after-hours session after the company said it struck deals to sell more than 15.6 million shares at $3.20 apiece to some institutional investors.

The pricing represents some 25% discount to its prior closing price and will raise about $50 million in gross proceeds for the medical device company.

Quantum-Si said it plans to use the funds for working capital and general corporate purposes. A.G.P./Alliance Global Partners is the placement agent for the offering.