• Quantum Cyber plans to raise the amount by selling its ordinary shares, preferred shares, warrants, subscription rights, and units.
• The massive capital-raising plan comes on the heels of this week's announcement that it is assuming responsibility for its drone manufacturing.
• The company made a complete U-turn from pharmaceuticals to defense this year.

Shares of Quantum Cyber (QUCY) were in the spotlight on Thursday after the company disclosed plans to raise up to $250 million through an offering of various securities.

At the time of writing, QUCY stock was down nearly 8% and was on track to snap its two-day gains if session losses hold.

The Capital Raise Plan

In an S-3 filing, the company disclosed plans to raise the amount by selling its ordinary shares, preferred shares, warrants, subscription rights, and units.

Quantum Cyber noted that it would offer and sell any combination of the aforementioned securities at varying prices and quantities at any given time to raise the amount. The proceeds from that will be used for daily operations.

Money For Drone Manufacturing

The massive capital-raising plan comes on the heels of this week's announcement that it will assume direct responsibility for its drone manufacturing.

The company, which made a complete U-turn from pharmaceuticals to defense this year, amended an agreement with its manufacturing partner, BP United. At the time, the company said the decision to take over its own production reflects its transition from a technology development and licensing platform to a vertically integrated autonomous defense manufacturer.

What Do Retail Traders Think About QUCY?

On Stocktwits, retail sentiment surrounding the stock remained ‘bearish’ over the last 24 hours.

One user on the platform expects the stock to touch $3 soon.

Another user highlighted that they have added QUCY shares to their position.

QUCY stock has more than doubled in value so far this year and climbed more than 17% over the last 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com.