Quantum-Si stock plunges on $50M direct offering terms

Investing.com -- Shares of Quantum-Si plummeted by 19% in post-market trading following the announcement of a registered direct offering.

The company disclosed plans to raise approximately $50 million in gross proceeds, which will be allocated towards working capital and other general corporate purposes.

The registered direct offering involves the sale of Quantum-Si shares, which saw significant trading activity with around 2.27 million shares changing hands after the market closed.

The price set for the offering marked a 25.4% discount to the company's last closing price, which likely contributed to the sharp decline in share value observed post-market.

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

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Source: Investing.com