Quanome CEO offers $15M loan for company growth
Quanome Technologies' CEO, Yang Li, agreed to provide a revolving loan of up to $15 million to the company, giving it a new funding source as it pursues quantum computing initiatives. The loan carries 6% annual interest, with amounts repaid able to be re-borrowed. Quanome's Audit Committee reviewed the deal independently, and Li abstained from the vote. The funds can be used for working capital or general corporate needs.
- CEO Yang Li is providing up to $15 million in loans
- The loan is non-dilutive and carries 6% interest
- Funds will support working capital and company growth
- Audit Committee approved the agreement independently
- Quanome focuses on quantum computing and AI systems
Sources covering this
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