Quantum-Si inventory plunges on $50M direct providing phrases

Investing.com — Shares of Quantum-Si plummeted by 19% in post-market buying and selling following the announcement of a registered direct providing.

The corporate disclosed plans to lift roughly $50 million in gross proceeds, which will likely be allotted in the direction of working capital and different basic company functions.

The registered direct providing includes the sale of Quantum-Si shares, which noticed important buying and selling exercise with round 2.27 million shares altering fingers after the market closed.

The worth set for the providing marked a 25.4% low cost to the corporate’s final closing worth, which doubtless contributed to the sharp decline in share worth noticed post-market.

As of November 7, Quantum-Si had 122.8 million shares excellent, with a public float comprising 96.8 million shares.

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