HOBOKEN, N.J., Jan. 7, 2025 /PRNewswire/ — Quantum Computing Inc. (“QCi” or the “Company”) (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today announced that it has entered into securities purchase agreements with institutional investors for the purchase and sale of 8,163,266 shares of common stock in a private placement at a purchase price of $12.25 per share. The offering is expected to result in gross proceeds of $100 million, before deducting offering expenses. The closing of the offering is expected to occur on or about January 9, 2025, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. With the anticipated net proceeds, combined with existing cash reserves, the Company expects to have sufficient resources to continue advancing and expanding the development and manufacturing of its photonics, thin-film lithium niobate (TFLN), and quantum technologies.

“This successful $100 million offering is priced at substantial premiums to our two recent offerings, bringing our total gross capital raised since November to $190 million,” said Mr. Chris Boehmler, CFO of QCi. “These funds further fortify our financial position and enable us to execute our multi-year growth plan, including investment in our longer-term initiatives, and thereby capitalize on the considerable opportunities in the TFLN photonic chip and quantum computing markets.”

Titan Partners Group, a division of American Capital Partners, is acting as the sole placement agent for the offering.

The securities issued in the private placement described above have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Company has agreed to file a resale registration statement with the SEC for purposes of registering the resale of the shares of common stock issued in connection with the private placement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

For investor relations inquiries, contact John Nesbett at qci@imsinvestorrelations.com, and for public relations inquiries, contact Jessica Tocco at jessica.tocco@a10associates.com.

About Quantum Computing Inc.

Quantum Computing Inc. (Nasdaq: QUBT) is an innovative, integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines to the world today. QCi’s products are designed to operate at room temperature and low power at an affordable cost. The Company’s portfolio of core technology and products offer unique capabilities in the areas of high-performance computing, artificial intelligence, and cybersecurity, as well as remote sensing applications

Forward-Looking Statements

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, generally identified by terms such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “intends,” “goal,” “objective,” “seek,” “attempt,” “aim to,” or variations of these or similar words, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding and including statements regarding the expected closing of the offering and QCi’s use of the net proceeds from the offering. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including, without limitation, the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the offering, as well as risks and uncertainties inherent in the QCi’s business, including the timing of commencing production at our TFLN fabrication facility, the timing of the advancement of our high-performance computing products, and the outcome of ongoing collaborations and demonstration projects with certain U.S. government agencies, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, QCi undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

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SOURCE Quantum Computing Inc.

Singapore Sees 20% Growth in Users Opting for Affordable and More Sustainable Travel

SINGAPORE, Jan. 8, 2025 /PRNewswire/ — The appetite for cross-border travel is on the rise as Singaporeans increasingly turn to buses as their preferred mode of transport. redBus, the world’s largest bus ticketing platform, has revealed key insights into this trend, reporting that over 180,000 bus seats were booked by Singapore-based travellers in 2024. This marks a significant uptick in demand for cost-effective, more sustainable travel options.

The platform also reported a 20% increase in new users from Singapore, with millennials and Gen Z travellers driving much of this growth. These younger travellers are seeking affordable, convenient, and environmentally-friendly alternatives for regional getaways. More than 1,24,000 tickets were booked with Singapore as the destination, from other counties.

“Singaporeans are increasingly embracing buses as their preferred mode of cross-border travel, not just for affordability but also for the convenience and sustainability they offer,” said Krishnan Ramaswami, Chief Business Officer of redBus. “Our data highlights a growing demand for seamless travel experiences, particularly among younger generations, who value the ability to plan entire trips—transportation and activities included—through a single, reliable platform. This shift underscores the evolving priorities of modern travellers, where practicality meets adventure.’

Singapore’s Cross-Border Travel Preferences: A Snapshot

Dominance of Malaysia Routes 
Almost 70% of all bus bookings from Singapore in 2024 were for trips to Malaysia, underscoring strong demand for cross-border travel. Popular destinations included Kuala Lumpur, Johor Bahru, Malacca, Genting Highlands, and Seremban. Johor Bahru (JB) alone accounted for over 45% of the total trips. SG to JB buses remain among the most popular and convenient choices, reflecting the appeal of Johor Bahru as a close and affordable getaway.Youth-Driven Trends 
Nearly 40% of redBus users in Singapore are aged between 21 and 30, showcasing a vibrant trend of young adventurers seeking cultural, scenic, and group travel experiences. This demographic is particularly attracted to the affordability and flexibility that bus travel offers, making it an ideal choice for short regional trips.Emerging Demand for Thailand 
Beyond Malaysia, destinations like Hat Yai, Thailand are seeing growing interest. These locations offer a blend of cultural and leisure experiences, attracting Singaporeans looking for more diverse travel options. The steady rise in bus travel to Thailand indicates a growing appetite for regional exploration beyond familiar destinations.Ferry services
Around 15,00 ferry tickets were booked between Singapore and other countries. Additionally, redBus has partnered with top 5 Singapore ferry operators on its platform: Sindo Ferry, Batam Fast, Majestic Ferry, Horizon Ferry, and Bintan Resort Ferries. These ferry services offer seamless connectivity between Singapore and popular destinations in Indonesia, enhancing redBus’s offerings for travellers seeking regional escape options via ferry.

This surge in cross-border bus travel aligns seamlessly with the Singapore government’s initiatives to promote sustainable transportation, with buses playing a critical role in reducing the carbon footprint of cross-border travel. As 2024 marks another record-breaking year, redBus is preparing to expand its network to ensure even greater connectivity and convenience for travellers across Asia.

Building on its commitment to innovation, redBus has introduced the ‘Things to Do’ feature, offering over 500 activities across Singapore and Malaysia. From cultural tours to unique local experiences, travellers can now plan their entire journey—including transportation and activities—on a single platform, enhancing convenience and enriching their travel experiences.

Krishnan Ramaswami, Chief Business Officer of redBus, said, “redBus is committed to redefining cross-border travel for Singaporeans, making it easy, reliable, and enjoyable. By leveraging user insights and innovation, we aim to provide seamless services that cater to the evolving needs of our travellers. Looking ahead, we plan to expand our network, introduce more features, and further enhance the travel experience to meet the expectations of modern-day adventurers.”

With these advancements, redBus is set to strengthen its position as the leading travel platform, helping Singaporeans explore regional destinations with confidence and ease.

About redBus

Founded in 2006, redBus is the world’s largest online bus ticketing platform, with over 466 million tickets sold globally and a customer base of 52 million users. Since entering Southeast Asia in 2015, redBus has transformed bus and ferry travel, offering affordable, reliable, and seamless booking experiences for key routes in Singapore, Malaysia, and beyond.

For more information, visit www.redbus.sg or download the redBus app.

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SOURCE redBus

India can accelerate its cessation rate and reduce smoking in the next 10 years with science backed policies – PMI CEO, Jacek Olczak

NEW DELHI, Jan. 8, 2025 /PRNewswire/ — Philip Morris International (PMI) recently hosted its 10th edition of Technovation at Abu Dhabi. The conference focused on the crucial role that innovation, technology, and science can play to help accelerate the decline in smoking rates, enabling a better future for everyone. PMI executives pointed out that a smoke-free future is within reach with alternatives that are designed to reduce harm compared to conventional tobacco, through a no-combustion technology.

Speaking at the event, Jacek Olczak, CEO Philip Morris International said, “Banning alternatives to cigarettes is “wasting time” because there is existing evidence that different product formats help address the problem in a faster manner. Depriving people of access to less harmful alternatives, while sale of cigarettes continue is almost immoral. 1 billion smokers, globally, should have the right to the information and choose an alternative that is less harmful. Countries that have embraced these alternatives like Japan for instance have seen a reduction of cigarettes by more than 45% in the last 10 years. Japan would be smoke-free in 10 years from now while India will have more smokers and would have wasted this opportunity of possible fast-tracked cessation, owing to not adopting science backed policies.”

Reinforcing the sentiments, Fred De Wilde, President South & Southeast Asia, Commonwealth of Independent States and Middle East and Africa Region at Philip Morris International, stated, “The Global South, with its young and growing population, will significantly contribute to shaping the future. According to the WHO, 80% of the worlds over 1 billion smokers reside in emerging economies. To accelerate the transition to a smoke-free future and reduce the harm from traditional tobacco use, we aim to meet consumer preferences in these regions with affordable and accessible less harmful alternatives to cigarette smoking. In fact, by June 2024, approximately 6.1 million individuals in twenty-seven countries had switched to less harmful alternatives. However, this is just the beginning, with over half of the world’s legal-age nicotine consumers living in these areas.”

Sharing the vision of a smoke-free world, Tommaso Di Giovanni, Vice President of Global Communications at Philip Morris International added, “PMI wants to replace cigarettes to less harmful alternatives as soon as possible. These alternatives have scientifically been proven to be safer than smoking. While not completely risk-free, they can significantly reduce exposure to harmful chemicals compared to cigarettes. We have a firm belief that if you do not smoke, don’t start. If you are already smoking, quit. If you do not stop, then switch to less harmful alternatives.”

PMI presented some of its lesser harmful alternatives that eliminate combustion & showcased how high levels of harmful chemicals in the smoke from burning cigarettes are the primary cause of smoking-related diseases.

About Philip Morris International

Philip Morris International (PMI) is a leading international tobacco company working to deliver a smoke-free future and evolving its portfolio for the long term to include products outside tobacco and nicotine sector.
For more information, please visit www.pmi.com and www.pmiscience.com.

Photo: https://mma.prnewswire.com/media/2592628/PMI.jpg

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