Hampton receives commission for SuperQ offering

Executive Summary

• SuperQ Quantum Computing Inc. has closed a private placement raising $3.45 million in aggregate gross proceeds through the sale of 3,285,713 units.
• The offering included the full exercise of the overallotment option, with each unit priced at $1.05.
• Proceeds are designated for quantum hardware development, including human resources, lab facilities, software, equipment, and general working capital.

Key Details

• Issuer: SuperQ Quantum Computing Inc.
• Lead Underwriter/Agent: Hampton Securities Limited (subsidiary of Hampton Financial Corp.)
• Total Gross Proceeds: $3,450,000
• Units Sold: 3,285,713 units
• Price Per Unit: $1.05
• Unit Composition: Each unit consists of one common share and one share purchase warrant.
• Warrant Terms:
  • Each warrant entitles the holder to acquire one additional common share.
  • Exercise Price: $1.40 per share.
  • Duration: 36 months from the closing of the offering.
• Broker Compensation:
  • Cash Commission: 7% of gross proceeds.
  • Broker Warrants: Non-transferable warrants equal to 7% of the number of units issued.
  • Broker Warrant Terms: Exercisable to acquire one share at the issue price ($1.05) for a period of 36 months from closing.
• Use of Proceeds: Quantum hardware development (human resources, lab facilities, software, equipment), research, product development, and general working capital.
• Regulatory Status: Sold pursuant to Part 5A of National Instrument 45-106 and Coordinated Blanket Order 45-935.
• Hold Periods:
  • Investor Units: No hold period under applicable Canadian securities laws.
  • Broker Warrants: Subject to a hold period of four months and one day from closing.

Notable Quotes

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