Arqit Quantum Inc., a cybersecurity company specializing in encryption technology, announced a significant offering of 5,440,000 ordinary shares at a purchase price of $2.50 per share. The offering is directed to certain investors and includes warrants to purchase an equivalent number of ordinary shares, exercisable at the same price. The warrants become exercisable on the later of one year post-issuance, shareholder approval of increased authorized capital, or when the ordinary shares' closing price exceeds $5.00 for 60 consecutive days. The offering and the warrants are exempt from registration under the Securities Act, and the ordinary shares and public warrants are listed on the Nasdaq Capital Market under the symbols 'ARQQ' and 'ARQQW,' respectively. The last reported sales price for the ordinary shares was...Show More

Arqit Quantum Inc., a cybersecurity company specializing in encryption technology, announced a significant offering of 5,440,000 ordinary shares at a purchase price of $2.50 per share. The offering is directed to certain investors and includes warrants to purchase an equivalent number of ordinary shares, exercisable at the same price. The warrants become exercisable on the later of one year post-issuance, shareholder approval of increased authorized capital, or when the ordinary shares' closing price exceeds $5.00 for 60 consecutive days. The offering and the warrants are exempt from registration under the Securities Act, and the ordinary shares and public warrants are listed on the Nasdaq Capital Market under the symbols 'ARQQ' and 'ARQQW,' respectively. The last reported sales price for the ordinary shares was $5.02, and for the public warrants, $0.092. The offering is expected to close on or about September 30, 2024, with a prospectus supplement dated September 30, 2024. Notably, existing shareholders Heritage Assets SCSP, Notion Capital Managers LLP, Carlo Calabria, and Garth Ritchie have agreed to purchase the offered shares. The proceeds, before expenses, are expected to be $13,600,000 and are intended for general corporate purposes.