Arqit Founders Voluntarily Extend Lock-up
04 October 2021 - 11:27PM
Business Wire
Signals Long-Term Commitment
Arqit Quantum Inc. (the “Company”) today announces that the
former shareholders of Arqit Limited and Centricus Heritage, LLC,
the sponsor of Centricus Acquisition Corp., have voluntarily
entered into new lock-up agreements with the Company to signal
their long-term support of the Company. The former shareholders of
Arqit Limited and Centricus Heritage, LLC originally entered into
lock-ups with the Company upon the closing of the Company’s
business combination with Centricus Acquisition Corp. and Arqit
Limited on September 3 2021, which were expected to expire in the
near term given the recent trading performance of the Company’s
shares.
The new lock-up agreements will restrict the transfer of the
Company’s shares by the parties from September 3 2021 until the
earlier to occur of (i) 11:59 p.m. Eastern time on the close of
trading on the second full trading day following release by the
Company of its financial results for the six months ended March 31
2022; and (ii) such time as determined by the board of directors of
the Company as being in the best interest of all stakeholders to
permit transfers.
Arqit Founder, Chairman and CEO David Williams, said: “I
am grateful for the 100% commitment of the Arqit Limited founder
shareholders and Centricus Heritage, LLC, the sponsor of Centricus
Acquisition Corp., to this voluntary lock-up. It signals the
shareholders’ long-term commitment to the business of the Company.
QuantumCloud™ has already solved some of the greatest cyber
security problems of the era and has proven that with major
customers in defence and telecoms with our recent product launch
and $130m of contracted revenues. The shareholders share our
excitement about the scale of what the Company can achieve in
future.”
-ends-
About Arqit
Arqit supplies a unique
quantum encryption Platform-as-a-Service which makes the
communications links of any networked device secure against current
and future forms of attack – even from a quantum computer. Arqit’s
product, QuantumCloud™, enables any device to download a
lightweight software agent of less than 200 lines of code, which
can create encryption keys in partnership with any other device.
The keys are computationally secure, one-time use and zero trust.
QuantumCloud™ can create limitless volumes of keys in limitless
group sizes and can regulate the secure entrance and exit of a
device in a group. The addressable market for QuantumCloud™ is
every connected device.
On 3 September 2021, Arqit completed its business combination
with Centricus Acquisition Corp. a special purpose acquisition
company. The combined company has retained the name Arqit Quantum
Inc. Arqit trades on Nasdaq under the ticker symbols “ARQQ” and
“ARQQW”.
Caution About Forward-Looking Statements This
communication includes forward-looking statements. These
forward-looking statements are based on Arqit’s expectations and
beliefs concerning future events and involve risks and
uncertainties that may cause actual results to differ materially
from current expectations. These factors are difficult to predict
accurately and may be beyond Arqit’s control. Forwardlooking
statements in this communication or elsewhere speak only as of the
date made. New uncertainties and risks arise from time to time, and
it is impossible for Arqit to predict these events or how they may
affect it. Except as required by law, Arqit does not have any duty
to, and does not intend to, update or revise the forward-looking
statements in this communication or elsewhere after the date this
communication is issued. In light of these risks and uncertainties,
investors should keep in mind that results, events or developments
discussed in any forward-looking statement made in this
communication may not occur. Uncertainties and risk factors that
could affect Arqit’s future performance and cause results to differ
from the forward-looking statements in this release include, but
are not limited to: (i) risks that the business combination
disrupts Arqit’s current plans and operations, (ii) the outcome of
any legal proceedings that may be instituted against the Arqit
related to the business combination, (iii) the ability to maintain
the listing of Arqit’s securities on a national securities
exchange, (iv) changes in the competitive and regulated industries
in which Arqit operates, variations in operating performance across
competitors, changes in laws and regulations affecting Arqit’s
business and changes in the combined capital structure, (v) the
ability to implement business plans, forecasts, and other
expectations after the completion of the business combination, and
identify and realize additional opportunities, (vi) the potential
inability of Arqit to convert its pipeline or orders in backlog
into revenue, (vii) the potential inability of Arqit to
successfully deliver its operational technology which is still in
development, (viii) the risk of interruption or failure of Arqit’s
information technology and communications system, (ix) the
enforceability of Arqit’s intellectual property, and (x) other
risks and uncertainties set forth in the sections entitled “Risk
Factors” and “Cautionary Note Regarding Forward-Looking Statements”
in Arqit’s final prospectus relating to its business combination
filed with the U.S. Securities and Exchange Commission (the “SEC”)
on July 30, 2021 and in subsequent filings with the SEC. While the
list of factors discussed above and the list of factors presented
in the final prospectus are considered representative, no such list
should be considered to be a complete statement of all potential
risks and uncertainties. Unlisted factors may present significant
additional obstacles to the realization of forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20211004005529/en/
Media relations enquiries: Arqit: Julie Moon T: +44 7825
503 950 E: Julie.moon@arqit.uk SEC Newgate:
arqit@secnewgate.co.uk
Investor relations enquiries: Gateway:
arqit@gatewayir.com
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