Why Did Arqit Quantum Shares Jump 13% Today? - Arqit Quantum (NASDAQ:ARQQ)

Former shareholders of quantum encryption Platform-as-a-Service provider, Arqit Quantum Inc ARQQ, and SPAC Centricus Acquisition Corp sponsor Centricus Heritage have forged new lock-up agreements to signal their long-term support.
The new lock-up agreements will restrict the transfer of the shares by the parties.
It signals the shareholders' long-term commitment to the business of the Company. QuantumCloud has already solved some of the most significant cyber security problems of the era and has proven that with substantial customers in defense and telecoms with the recent product launch and $130 million of contracted revenues, Arqit Chairman and CEO David Williams said.
The former shareholders of Arqit Limited and Centricus Heritage, LLC originally inked lock-ups upon the closing of Arqit's SPAC merger with Centricus Acquisition Corp and Arqit Limited on September 3, which were likely to expire in the near term given the recent trading performance of the shares.
Price Action: ARQQ shares closed higher by 13.44% at $20.76 on Monday.