ZPTA News & Events

Zapata Quantum announced a collaborative research effort with the University of Maryland, UMD. "We are honored to partner with UMD, one of the world's leading academic institutions in quantum computing," said Sumit Kapur, Chief Executive Officer of Zapata Quantum. "This collaboration positions Zapata at the forefront of the field, advancing rigorous, verification-driven approaches that the quantum ecosystem will increasingly depend on."

Zapata Quantum announced the appointment of three leaders in quantum computing to its Scientific Advisory Board: Dr. Alireza Shabani, Dr. Austin Fowler and Dr. Jeff Grover. Shabani is a leading figure in the advancement of quantum applications, recognized for translating quantum information science into practical, real-world impact. He founded Cisco Quantum Lab, where he led application-driven research at the intersection of quantum information and enterprise deployment. Fowler is a globally recognized authority in quantum computing and a leading figure in the development of quantum error correction and fault-tolerant quantum architectures. His pioneering work on surface code quantum error correction helped establish the theoretical foundation for scalable, fault-tolerant quantum computers. He previously served as a research scientist at Google Quantum AI. Grover is a principal research scientist in MIT's Engineering Quantum Systems Group, where his work focuses on experimental quantum systems, control infrastructure, and multi-qubit calibration.

Zapata Quantum announced the appointment of William Klitgaard as a Board member and Chair of the Audit Committee, and Clark Golestani as Chairman of the Board. Mr. Golestani has been serving as a director since 2018. Klitgaard is currently a Board Member at XIFIN, Inc., and has previously held board positions at Syneos Health, Avista Public Acquisition Corp II, Inform Diagnostics, Certara, Bioclinica, and Liaison Technologies. He was President of Enlighten Health at LabCorp and spent over 18 years at Covance in several executive roles, including SVP CIO, SVP CFO, and Corporate VP Treasurer. Golestani is currently Managing Director at C Sensei Group.

Zapata Quantum announced the completion of Phase Two of its strategic restructure, marking another major milestone in establishing the Company's foundation for sustained growth. Phase Two included a $1.25 million capital raise at an over 3x step-up in effective price per share from the most recent financing round, as well as the restructuring of an additional $8.6 million in debt bringing total debt restructured to $18.7 million. In Phase Two, the Company restructured an additional $8.6 million of debt. Altogether, the Company has now addressed $18.7 million of debt or over 85% of its legacy unsecured liabilities at year-end 2024, with well over 80% of the restructuring accomplished through conversions to equity. Zapata is utilizing the new financing to accelerate both the rebuilding of its core scientific team as well as to retain a top-tier financial and accounting advisory firm to expedite its path to full SEC compliance, which the Company expects to achieve within the current quarter. Going forward, the Company also plans to pursue a return to a national exchange, such as Nasdaq, where it was previously listed.