Since the close of trading at the end of last week, shares of Quantum Computing (NASDAQ: QUBT) traded roughly 9% lower as of 11:10 a.m. ET Friday. The big move came earlier this week after the company announced an oversubscribed private placement.

On Sunday, Quantum Computing announced a $500 million oversubscribed private placement of common stock. The company will sell over 26.8 million shares to large existing shareholders, as well as a new investment from a large global alternative-asset manager.

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Source Fool.com