Here's Why Quantum Computing Shares Are Trading Higher Today

Quantum Computing Inc QUBT agreed to acquire QPhoton, a quantum photonics innovation company.
QPhoton developed a series of quantum photonic systems (QPS).
QCI will issue to QPhoton's stockholders aggregate merger consideration consisting of 5.8 million shares, 2.4 million preferred shares convertible into 23.8 million shares, and warrants exercisable at a purchase price of $0.0001 per share to purchase up to 7 million shares.
The acquisition of QPhoton extends QCI's offerings to accelerate the accessibility of quantum computing and other powerful technologies into easily deployable solutions today and advances QCI into a full-spectrum quantum software and hardware company.
Robert Liscouski, CEO of QCI, said, "The combination of QPhoton's powerful quantum processing technology and systems with QCI's Qatalyst software significantly accelerates accessibility to quantum solutions for real business problems."
QPhoton will be a wholly-owned subsidiary of QCI, and CEO Dr. Yuping Huang will join QCI as a director and officer.
Price Action: QUBT shares traded higher by 25.50% at $1.97 on the last check Tuesday.