Brief: Quantum-Si To Terminate About 16% Of Its Workforce

Quantum-Si

29/08/2023 22:48

Aug 29 (Reuters) - Quantum-Si Inc  QSI.O :
    * QUANTUM-SI INC -  ON AUGUST 26 CO COMMITTED TO AN
ORGANIZATIONAL
RESTRUCTURING
    * QUANTUM-SI INC - TERMINATING APPROXIMATELY 16% OF ITS
WORKFORCE
    * QUANTUM-SI:EXPECTS TO RECOGNIZE OVER REMAINDER OF 2023
ONE-TIME
CASH CHARGE RELATED TO SEVERANCE, OTHER BENEFITS OF ABOUT $2.5
MILLION RELATED TO RESTRUCTURING
    * QUANTUM-SI - EXPECTS TO RECOGNIZE NON-CASH EXPENSE OVER
REMAINDER OF 2023 IN AMOUNT OF APPROXIMATELY $0.3 MILLION
RELATED TO STOCK OPTION MODIFICATIONS
    * QUANTUM-SI INC - EXPECTS TO SUBSTANTIALLY COMPLETE
RESTRUCTURING
IN Q4 OF 2023
    * QUANTUM-SI INC - CURRENT PRESIDENT AND CHIEF OPERATING
OFFICER
PATRICK SCHNEIDER WILL STEP DOWN FROM ROLES, EFFECTIVE AS OF
AUGUST 28
    * QUANTUM-SI - BOARD APPOINTED JEFFREY HAWKINS, CURRENT CEO
AND
MEMBER OF BOARD, AS PRESIDENT OF COMPANY, EFFECTIVE AS OF AUGUST
28


Further company coverage:  QSI.O 

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