Quantum Computing Inc. has filed documentation that paves the way for investors to sell a large amount of stock and warrants to acquire shares.
This is the background: Two private-equity investors in the integrated photonics and quantum-optics technology company, which has a NASA contract, purchased a total of 8.46 million Quantum Computing shares in a private placement on Dec. 10 for $5 a share. The placement is known as a PIPE offering, or private investment in public equity.
Quantum Computing registered the shares sold in the PIPE offering, a process that allows the purchasers to sell the shares and warrants, essentially freely "in a number of different ways and at varying prices, " according to a registration statement the company filed with the Securities and Exchange Commission. The SEC needs to approve the statement before it is effective, but the registrations are typically approved.
Upon approval, Alyeska Master Fund LP, managed by Alyeska Investment Group of Chicago, could sell any or all of its 4.23 million Quantum Computing shares. Affiliates of Anson Funds of Toronto and Dallas, could do the same with their 4.23 million Quantum Computing shares.
American Capital Partners LLC could sell five-year warrants for 500,000 Quantum Computing shares received as part of compensation for one of its units acting as the placement agent for the December transaction, which also included the sale of 1.54 million Quantum Computing shares priced at $5 each.
Alyeska and Anson are already holding paper gains. Based on Friday's closing price of $17.62, the 8.46 million Quantum Computing shares to be sold are valued at $149 million in total.
American Capital's warrants are exercisable as of June 8, 2025, and have an initial exercise price of $5.75 per Quantum Computing share.
Quantum Computing won't receive any money from the sales, but it would receive about $2.9 million in proceeds if the warrants are fully exercised. The sales also wouldn't change the number of Quantum Computing shares outstanding: 128,962,498 shares. If the warrants are fully exercised, shares outstanding would rise to 129,462,498 shares.
Alyeska, Anson, and American Capital didn't immediately respond to requests for comment.
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