D-Wave Quantum Inc. (NYSE: QBTS) has successfully completed sales of $400 million in gross proceeds of its common stock through its previously disclosed “at-the-market” (ATM) equity offering program. The ATM Program commenced on June 11 and concluded on June 27, with an average price per share of $15.18. This completion has increased D-Wave’s current cash balance to approximately $815 million.
The average price per share of $15.18 from this offering represents a premium compared to the $6.10 average price per share of the Company’s most recent $150 million ATM Program, which was completed in January of this year. D-Wave operates as a commercial supplier of quantum computers, developing and delivering both annealing and gate-model quantum computing systems, software, and services.
D-Wave intends to primarily allocate the proceeds from this financing to strategic acquisitions and for general corporate purposes, including additional working capital and capital expenditures. This substantial cash balance is expected to enable the company to invest in programs that will support the expansion of its commercial quantum computing applications, furthering efforts in use cases across optimization, artificial intelligence, and research.
Read the full announcement here.
July 1, 2025
