- Arqit Quantum (NASDAQ:ARQQ) has announced that D2BW, an existing shareholder beneficially owned by Arqit’s Founder, Chairman and CEO, David Williams, and Founder and CTO, David Bestwick has agreed to purchase 1.24M ordinary shares from Arqit, with total gross proceeds to Arqit of ~$0.9M.
- The purchase price per share is $0.725, which was the closing price of Arqit’s ordinary shares as reported by Nasdaq on 28 March 2024.
- This represents an initial purchase under a Purchase Agreement between D2BW and Arqit whereby D2BW would purchase up to an aggregate of 7.59M shares at a purchase price/share of $0.725.
- The transaction is expected to close on 15 April 2024.