D-Wave Quantum (NYSE: QBTS) Raises $400 Million Through Equity Offering

Globe and Mail

02-07-2025

D-Wave Quantum (NYSE: QBTS) ('D-Wave'), a leader in quantum computing systems, software, and services and the world's first commercial supplier of quantum computers, has completed sales of $400 million in gross proceeds of its common stock under its previously disclosed 'at-the-market' ('ATM') equity offering program. The program, which ran from June 11 to June 27, closed at an average share price of $15.18. This represents a 149% premium over the $6.10 average share price for the sales under the company's prior $150 million ATM program completed in January.
The Company intends to use the proceeds from this financing primarily for strategic acquisitions and general corporate purposes including additional working capital and capital expenditures.
'With what we believe to be the strongest balance sheet of any public, independent quantum computing company, we intend to invest in acquisitions and programs that will enable us to expand our already significant lead as the only commercial quantum computing company with applications in production,' said Dr. Alan Baratz, CEO of D-Wave.
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About D-Wave Quantum Inc.
D-Wave is a leader in the development and delivery of quantum computing systems, software, and services. We are the world's first commercial supplier of quantum computers, and the only company building both annealing and gate-model quantum computers. Our mission is to help customers realize the value of quantum, today. Our quantum computers, the world's largest, are available on-premises or via the cloud, supported by 99.9% availability and uptime. More than 100 organizations trust D-Wave with their toughest computational challenges. With over 200 million problems submitted to our quantum systems to date, our customers apply our technology to address use cases spanning optimization, artificial intelligence, research and more. Learn more about realizing the value of quantum computing today and how we're shaping the quantum-driven industrial and societal advancements of tomorrow: www.dwavequantum.com.
Forward Looking Statements
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