Quantum-Si Incorporated Enters Equity Distribution Agreement with Canaccord Genuity LLC

On December 11, 2024, Quantum-Si Incorporated, a Delaware corporation, finalized an Equity Distribution Agreement with Canaccord Genuity LLC for the sale of shares of the Company’s Class A common stock. The agreement outlines an “at the market offering” program under which Canaccord will serve as the sales agent, with an aggregate offering price of up to $75 million for the shares.

This offering falls under the Company’s shelf registration statement on Form S-3, which was declared effective on August 22, 2023, along with a prospectus supplement specifically related to the ATM Offering dated December 11, 2024. It’s important to note that this current report on Form 8-K does not signify the initiation of a sale or the solicitation of any offers for the shares in jurisdictions where such actions would be unlawful without registrations or qualifications under the specific securities laws of the state.

As per the terms and conditions of the Sales Agreement, Canaccord will make efforts consistent with standard trading and sales practices to sell the shares as directed by the Company within the bounds of applicable laws and regulations. The Company holds the discretion to suspend or terminate offers under the Sales Agreement at any point. Canaccord will receive commissions for their services as the sales agent, calculated up to 3.0% of the gross sales price per share sold.

Concurrently, Quantum-Si Incorporated terminated a prior Equity Distribution Agreement with Evercore Group L.L.C. on the same day. This earlier Agreement, dated August 11, 2023, sanctioned the Company to sell up to $75 million of its Common Stock through Evercore, but no shares were sold under this Agreement.

The legal opinion of DLA Piper LLP (US), the Company’s legal counsel regarding the shares, was filed along with the Agreement. The Exhibit 5.1 contains the legal opinion, while the Sales Agreement dated December 11, 2024, between Quantum-Si Incorporated and Canaccord Genuity LLC, was filed as Exhibit 10.1. Additionally, Exhibit 23.1 holds the consent of DLA Piper LLP (US), which is part of Exhibit 5.1.

Quantum-Si Incorporated affixed the signature of Jeffry Keyes, the Chief Financial Officer, on December 11, 2024, duly authorizing the report in accordance with the Securities Exchange Act of 1934.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Quantum-Si’s 8K filing here.

Quantum-Si Company Profile

Quantum-Si incorporated, a life sciences company, engages in the development of single-molecule detection platform to enable Next Generation Protein Sequencing (NGPS). The company’s platform is comprised of the Platinum NGPS instrument; the Platinum Analysis Software service; and reagent kits and semiconductor chips for use with its instruments.