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

What To Know: Quantum Computing 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 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 ...