Add as a preferred source on GoogleQuantumCore Plans to Repurchase Up to 1.59 Million Shares
The limit equals about 10% of its public float. QuantumCore is not required to make any purchases.
QuantumCore Ltd. plans to buy back as many as 1,585,729 common shares through the Canadian Securities Exchange, allowing the Canadian quantum hardware company to retire about 5% of its outstanding stock.
The limit is also about 10% of the company’s public float. QuantumCore has 31,714,581 shares outstanding. Any shares it buys would be purchased at the prevailing market price and canceled.
QuantumCore considers its shares undervalued. It has appointed Leede Financial Inc. to handle purchases, but the authorization does not require the company to buy any shares. The timing and size of purchases will depend on market conditions.
QuantumCore develops hardware for quantum computing systems. Its shares trade in Canada under QNCR and in the United States on the OTCQB market under QNCRF.
The buyback is set to end Oct. 16, 2027, unless QuantumCore reaches the limit or terminates the program earlier.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.