Shares of Arqit Quantum (NASDAQ: ARQQ), which went public through a special purpose acquisition company (SPAC) in 2021 and tripled its share price in a matter of months (then saw it all go poof in the SPAC collapse), is having yet another bad day on Friday. Shares of the British quantum computing cybersecurity company tumbled 40.5% through 10:25 a.m. ET this morning.    

And Arqit has no one to blame but itself.

This morning, Arqit announced that it has agreed to sell "several institutional investors" 10 million new shares of the company at $2 apiece, with attached rights to buy up to 7.5 million more shares (warrants) at the same exercise price.

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Source Fool.com