IBN Coverage: D-Wave (NYSE: QBTS) Completes $175M Equity Offering, Strengthening Financial Position

NewMediaWire12-17 04:32

This article was published by IBN, a multifaceted communications organization engaged in connecting public companies to the investment community. LOS ANGELES - (NewMediaWire) - December 16, 2024 - D-...

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The $75 million program, initiated on December 9, closed at an average price of $4.8149 per share, with D-Wave stock trading at a Volume Weighted Average Price of $4.6625 over the same period.\nThe company expects to conclude the fiscal 2024 fourth quarter with at least $160 million in cash. The funds will be used to support working capital, capital expenditures, and technical development. In the press release, CEO Dr. Alan Baratz highlighted the role of D-Wave's 5,000-qubit Advantage quantum computer in driving commercial adoption of annealing quantum computing and emphasized the funding's importance for executing against its product and go-to-market strategies and roadmaps.\nTo view the full press release, visit https://ibn.fm/ssni9\nAbout D-Wave Quantum Inc.\nD-Wave is a leader in the development and delivery of quantum computing systems, software and services, and is the world's first commercial supplier of quantum computersand the only company building both annealing quantum computers and gate-model quantum computers. The company's mission is to unlock the power of quantum computing today to benefit business and society. D-Wave does this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection and financial modeling. D-Wave's technology has been used by some of the world's most advanced organizations including Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jlich, University of Southern California, and Los Alamos National Laboratory.\nForward-Looking Statements\nCertain statements in this article are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risks set forth under the heading \"Risk Factors\" discussed under the caption \"Item 1A. Risk Factors\" in Part I of the Company's most recent Annual Report on Form 10-K or any updates discussed under the caption \"Item 1A. Risk Factors\" in Part II of the Company's Quarterly Reports on Form 10-Q and in the Company's other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this article in making an investment decision, which are based on information available to us on the date hereof. All parties undertake no duty to update this information unless required by law.\nAbout IBN\nIBN is a cutting-edge communications and digital engagement platform providing tailored Platform Solutions for select private and public companies. Over the course of 18+ years, IBN has introduced over 65+ investor facing brands to the investment public and amassed a collective audience of millions of social media followers. These distinctive investor brands amplify recognition and reach as well as help fulfill the unique needs of our rapidly growing and diverse base of client-partners. 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