- Quantum Computing Inc QUBT agreed to acquire QPhoton, a quantum photonics innovation company.
- QPhoton developed a series of quantum photonic systems (QPS).
- QCI will issue to QPhoton’s stockholders aggregate merger consideration consisting of 5.8 million shares, 2.4 million preferred shares convertible into 23.8 million shares, and warrants exercisable at a purchase price of $0.0001 per share to purchase up to 7 million shares.
- The acquisition of QPhoton extends QCI’s offerings to accelerate the accessibility of quantum computing and other powerful technologies into easily deployable solutions today and advances QCI into a full-spectrum quantum software and hardware company.
- Robert Liscouski, CEO of QCI, said, “The combination of QPhoton’s powerful quantum processing technology and systems with QCI’s Qatalyst software significantly accelerates accessibility to quantum solutions for real business problems.”
- QPhoton will be a wholly-owned subsidiary of QCI, and CEO Dr. Yuping Huang will join QCI as a director and officer.
- Price Action: QUBT shares traded higher by 25.50% at $1.97 on the last check Tuesday.
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