D-Wave Quantum Inc. has successfully raised $175 million in gross proceeds through two at-the-market (ATM) equity offering programs. The latest $75 million program, launched on December 9, 2024, was completed at an average share price of $4.8149 over three days. These funds strengthen D-Wave’s financial position, with the company projecting at least $160 million in cash by the end of Q4 2024.
The capital will support D-Wave’s working capital, capital expenditures, and continued development of its quantum computing technologies. The company’s 5,000-qubit Advantage™ quantum computer is the largest of its kind and plays a pivotal role in advancing annealing quantum computing. D-Wave is also unique in its development of both annealing and gate-model quantum systems.
Dr. Alan Baratz, CEO of D-Wave, emphasized the funding’s importance in enhancing the company’s ability to execute its product strategies and strengthen its position in the quantum computing market. D-Wave’s technology is being adopted by organizations across diverse industries, including logistics, artificial intelligence, materials science, and financial modeling.
For further details, visit D-Wave’s press release here.
December 12, 2024
