D-Wave Quantum Inc. (NYSE:QBTS) shares are trading lower on Monday. The company entered a sales agreement with Needham & Company, LLC, Roth Capital Partners, LLC, B. Riley Securities, Inc. and Craig-Hallum Capital Group, LLC (the agents).

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What To Know: Under the agreement, D-Wave can sell up to $75 million worth of its shares over time. In addition, the agents will receive compensation of up to 3.0% of the gross sales price of the shares sold.

The Form 8-K filing with the Securities and Exchange Commission does not specify what D-Wave intends to do with the net proceeds.

What Else: Last week, D-Wave participated in the Quantum Technologies Forum at the University of Southern California. The company showcased advancements in its annealing quantum computing technology and its real-world applications.

Additionally, D-Wave announced plans to showcase its solutions at the Q2B24 Silicon Valley conference. Specifically, D-Wave will explore the use of quantum optimization in manufacturing, network allocation and workforce scheduling.

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QBTS Price Action: At the time of writing, D-Wave shares are trading 7% lower at $4.70, per data from Benzinga Pro.

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