Qtrex Quantum Ltd’s shares tumbled 13.6% to $0.967 in morning trading after the Israel-based quantum interconnect company announced a registered direct offering of 11,111,111 ordinary shares.
The offering, disclosed on August 19, is expected to raise approximately $10 million in gross proceeds before placement agent fees and other expenses. Net proceeds will be allocated to working capital and general corporate purposes.
The deal was placed with one existing institutional investor and one new global institutional investor. Qtrex Quantum reported $289,000 in revenue for the fiscal year 2025, alongside a net loss of $13.2 million. The company’s shares have traded between a 52-week high of $3.85 and a low of $0.283.
During the same session, the NASDAQ declined 0.5% and the S&P 500 fell 0.3%, reflecting broader market weakness.
