D-Wave Quantum Inc. (QBTS) shares soared 5.28% in the pre-market trading session on Thursday, following the company's announcement of successfully completing a $150 million equity offering and the introduction of a new quantum computing program.
The quantum computing company announced that it has raised $150 million through an "at-the-market" equity offering program. The offering, which took place from January 15 to January 21, was sold at an average price of $6.10 per share, representing a 3.7% premium over the stock's volume-weighted average price. D-Wave's cash balance now stands at around $320 million, providing the necessary capital to execute its plan for sustained profitability and positive cash flow.
Additionally, D-Wave unveiled the Leap Quantum LaunchPad program, designed to accelerate the deployment of quantum computing applications. The program offers free trial access to D-Wave's technology, including its Advantage production-grade annealing quantum computers with 5,000+ qubits, the Leap real-time quantum cloud service, and technical guidance from D-Wave's experts. This initiative aims to foster the exploration, development, and implementation of quantum and hybrid-quantum applications across various industries.
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