Zinger Key Points
- D-Wave raises $150M through equity offering to support quantum computing advancements, boosting cash balance to $320M.
- D-Wave launches Leap Quantum LaunchPad program, offering free trials of its Advantage quantum computers to accelerate adoption.
- Live on Wednesday: Historic Summer Setup: 3 "Power Patterns" Triggering in the next 75 Days. Get The Details Now
D-Wave Quantum Inc. QBTS is seeing a dip in premarket trading, despite successfully completing a $150 million equity offering.
The company finalized its “at-the-market” (ATM) offering program, which ran from January 15th to January 21st, raising gross proceeds at an average price of $6.10 per share.
This price represented a 3.7% premium over the volume-weighted average price of the stock during the offering period. With the funds now raised, D-Wave’s cash balance stands at approximately $320 million.
The capital will be used to support the company’s ongoing technical developments and operational activities, with a focus on achieving sustained profitability and positive cash flow.
Dr. Alan Baratz, CEO of D-Wave, expressed confidence in the company’s future, highlighting its leadership in the commercialization of quantum computing.
He pointed to the company’s progress, including customer applications in production, quantum optimization offerings and advancements in quantum AI.
Additionally, D-Wave announced the launch of the Leap Quantum LaunchPad program, aimed at accelerating the adoption of quantum computing.
This program offers qualified participants a 3-month free trial of D-Wave’s Advantage quantum computers, which feature 5,000+ qubits and sub-second solve times.
The initiative will also provide access to D-Wave’s Leap quantum cloud service, boasting a 99.9% uptime.
Through this program, D-Wave seeks to help businesses and researchers solve complex problems that are beyond the reach of classical computing, further solidifying its position as a leader in quantum technology.
Price Action: QBTS shares are trading lower by 2.10% to $6.120 premarket at last check Thursday.
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