Shares of Quantum-Si Plummet 19% Following Registered Direct Offering Announcement
Shares of Quantum-Si plummeted by 19% in post-market trading after the company announced plans to raise approximately $50 million in gross proceeds through a registered direct offering. The company plans to allocate the funds towards working capital and other general corporate purposes.
The registered direct offering involves the sale of Quantum-Si shares, which saw significant trading activity in the after-hours market, with around 2.27 million shares changing hands after the market closed. The price set for the offering marked a 25.4% discount to the company’s last closing price, which likely contributed to the sharp decline in share value observed post-market.
As of November 7, Quantum-Si had 122.8 million shares outstanding, with a public float comprising 96.8 million shares. The offering is expected to have a significant impact on the company’s stock price, and investors will be closely monitoring the company’s progress as it moves forward.