NEW YORK & LONDON–(Business WIRE)–Arqit Quantum Inc. (“Arqit”), a chief in quantum encryption technological know-how, right now declared the completion of its enterprise mix with Centricus Acquisition Corp. (“Centricus”), a exclusive goal acquisition corporation. The organization mix was approved at the amazing basic meeting of Centricus’ shareholders on August 31, 2021 and shut nowadays, September 3, 2021.
The combined organization will retain the name Arqit Quantum Inc. Starting on September 7, 2021, Arqit’s common shares and warrants will trade on Nasdaq below the ticker symbols “ARQQ” and “ARQQW”, respectively.
David Williams, Arqit Founder and Chief Government Officer, stated: “Arqit has an vital job forward to guard the details of our federal government, enterprises and shoppers. We are sure that we invented the most vital cyber protection technological know-how of the era. Our QuantumCloud™ program, now launched this thirty day period to the initial 20 buyers, will operate very proficiently and fast on virtually any device, generating keys which are zero believe in and protected from all computational attacks. When we update the procedure in two years’ time with the launch of quantum satellites, the whole technique also gets thoroughly quantum safe and sound. It is overwhelmingly apparent that the world desires much better, more simple encryption. The completion of this transaction will help Arqit now to fulfil its mission. We have lifted hard cash equal to around two times of the funding need of the enterprise, so our destiny is in our personal hands. The board of Arqit Quantum Inc. expresses its thanks for the aid of its new traders and the crew at Centricus and the adviser team who have executed this changeover with good treatment and success.”
“We are exceptionally enthusiastic to comprehensive our small business blend with Arqit. As a general public enterprise, Arqit will now have the system to totally execute versus its vision, further speed up its commercial packages and create by itself as a chief in the encryption place. I glance ahead to continuing to help the firm as a member of the board and aiding to make Arqit’s vision of guaranteeing a safer natural environment for corporations and persons a fact,” stated Garth Ritchie, Chief Executive Officer and Director of Centricus.
Arqit’s Founder and Main Executive Officer, David Williams, will go on to guide the corporation.
Deutsche Lender served as monetary advisor and money marketplaces advisor to Arqit and as a placement agent on the PIPE featuring. J.P. Morgan served as money advisor to Centricus in link with the business mix and as a placement agent on the PIPE presenting. White & Case LLP served as legal advisor to Arqit. Latham & Watkins LLP served as lawful advisor to Centricus. Sidley Austin LLP served as lawful advisor to the placement brokers.
Arqit supplies a exceptional quantum encryption System-as-a-Services which can make the communications hyperlinks of any networked device protected against current and potential varieties of assault – even from a quantum laptop or computer. Arqit’s products, QuantumCloud™, enables any product to obtain a light-weight program agent of less than 200 traces of code, which can create keys in partnership with any other unit. The keys are computationally secure, never exist until eventually the instant they are required and can hardly ever be known by a third bash. QuantumCloud™ can create limitless volumes of keys in limitless team measurements and can regulate the secure entrance and exit of a device in a group. The addressable marketplace for QuantumCloud™ is each linked unit.
Caution About Ahead-Searching Statements
This interaction involves ahead-seeking statements. These forward-hunting statements are primarily based on Arqit’s expectations and beliefs about potential occasions and require dangers and uncertainties that might trigger precise outcomes to differ materially from recent expectations. These factors are challenging to predict precisely and may possibly be further than Arqit’s manage. Forward-hunting statements in this communication or in other places speak only as of the date built. New uncertainties and dangers occur from time to time, and it is not possible for Arqit to predict these situations or how they may well have an affect on it. Other than as demanded by regulation, Arqit does not have any duty to, and does not intend to, update or revise the ahead-wanting statements in this interaction or in other places right after the day this communication is issued. In gentle of these dangers and uncertainties, buyers should really maintain in intellect that success, functions or developments talked about in any forward-looking statement produced in this interaction could not happen. Uncertainties and hazard aspects that could impact Arqit’s long run functionality and bring about benefits to differ from the forward-hunting statements in this release include, but are not constrained to: (i) threats that the organization mixture disrupts Arqit’s latest strategies and functions, (ii) the final result of any authorized proceedings that may be instituted in opposition to the Arqit associated to the organization mix, (iii) the skill to preserve the listing of Arqit’s securities on a national securities trade, (iv) variations in the competitive and controlled industries in which Arqit operates, versions in operating effectiveness across competition, changes in guidelines and rules impacting Arqit’s enterprise and alterations in the combined money framework, (v) the means to carry out business plans, forecasts, and other expectations right after the completion of the business mix, and discover and notice additional possibilities, (vi) the probable lack of ability of Arqit to transform its pipeline or orders in backlog into earnings, (vii) the potential lack of ability of Arqit to properly supply its operational know-how which is still in improvement, (viii) the hazard of interruption or failure of Arqit’s information engineering and communications procedure and (ix) the enforceability of Arqit’s mental house.