D-Wave Quantum Inc. (QBTS) has successfully completed sales of $400 million in gross proceeds from its common stock under its $400 million at-the-market equity offering program.
D-Wave Quantum Inc. (QBTS) plans to use the proceeds primarily for strategic acquisitions.
The company will also allocate funds for general corporate purposes, including additional working capital and capital expenditures.
The $400 million ATM Program of D-Wave Quantum Inc. (QBTS) was completed at an average price per share of $15.18.
This average price per share represents a $9.08 or 149% premium compared to the $6.10 average price per share.
Dr. Alan Baratz, CEO of D-Wave Quantum Inc., stated the company intends to invest in acquisitions and programs to expand its lead as the only commercial quantum computing company with applications in production.