Arqit Founders Voluntarily Extend Lock-Up
May 12 2022 - 7:00AM
Arqit Quantum Inc. (the “Company”) today announces that the
majority of former shareholders of Arqit Limited (or their
transferees) and former members of Centricus Heritage, LLC, the
sponsor of Centricus Acquisition Corp. have voluntarily entered
into extensions of their 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 in September 2021,
which were extended in October 2021, and were expected to expire in
connection with the Company’s upcoming release of its financial
results for the six months ended March 31, 2022.
The extension of the lock-up agreements will
restrict the transfer of the Company’s shares by the parties until
the earlier to occur of (i) September 3, 2022; and (ii) such time
as determined by the board of directors of the Company as being in
the best interest of the parties to permit transfers, in whole or
in part. All of the shareholders approached regarding lock-up
extensions (holding 105,886,259 of the 108,585,000 shares subject
to the original lock-ups) agreed to extend their lock-up
agreements.
Arqit Founder, Chairman and CEO David
Williams, said: “We are pleased to see that shareholders
share our conviction in the prospects of the company and chose to
signal this to other stakeholders through this voluntary lock-up.
We are confident that Arqit’s technology is capable of delivering
significant transformation to cybersecurity in many industries and
see encouraging signs of momentum with potential customers.”
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, which can create encryption keys in partnership
with any other device. The keys are computationally secure,
optionally 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.
Media relations
enquiries:Arqit:
contactus@arqit.ukFTI Consulting:
scarqit@fticonsulting.com
Investor relations
enquiries:Arqit:
investorrelations@arqit.ukGateway:
arqit@gatewayir.com
Caution About Forward-Looking
Statements
This communication includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements, other than statements of
historical facts, may be 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. Forward-looking
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) the outcome of any legal proceedings that
may be instituted against the Arqit related to the business
combination, (ii) the ability to maintain the listing of Arqit’s
securities on a national securities exchange, (iii) changes in the
competitive and regulated industries in which Arqit operates,
variations in operating performance across competitors and changes
in laws and regulations affecting Arqit’s business, (iv) the
ability to implement business plans, forecasts, and other
expectations, and identify and realise additional opportunities,
(v) the potential inability of Arqit to convert its pipeline into
contracts or orders in backlog into revenue, (vi) the potential
inability of Arqit to successfully deliver its operational
technology which is still in development, (vii) the risk of
interruption or failure of Arqit’s information technology and
communications system, (viii) the enforceability of Arqit’s
intellectual property, and (ix) other risks and uncertainties set
forth in the sections entitled “Risk Factors” and “Cautionary Note
Regarding Forward-Looking Statements” in Arqit’s annual report on
Form 20-F (the “Form 20-F”), filed with the U.S. Securities and
Exchange Commission (the “SEC”) on December 16, 2021 and in
subsequent filings with the SEC. While the list of factors
discussed above and in the Form 20-F and other SEC filings 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 realisation of forward-looking statements.
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