Summary by Moomoo AI
Arqit Quantum Inc., a cybersecurity company listed on The Nasdaq Capital Market under the symbols 'ARQQ' for its ordinary shares and 'ARQQW' for its public warrants, has announced a private offering of 1,241,379 ordinary shares to D2BW Limited, an entity beneficially owned by Arqit's CEO David Williams and CTO David Bestwick. The shares are priced at $0.725 each, totaling approximately $900,000 in proceeds before expenses. This offering is part of a prospectus supplement to the prospectus dated December 30, 2022, and is expected to close on or about April 15, 2024. Arqit Quantum, which identifies as a 'foreign private issuer' and an 'emerging growth company,' has not engaged a placement agent or underwriter for this offering and will not pay any selling commission. The company plans to use the net proceeds to support the growth of its channel partnerships and for general corporate purposes. The last reported sales price of Arqit's ordinary shares was $0.4967 per share, and the public warrants were $0.19 per warrant as of April 12, 2024.