D-Wave Quantum Inc.
D-Wave Completes $150 Million Equity Offering
Summary
On January 23, 2025, D-Wave Quantum Inc. announced the successful completion of its $150 million at-the-market equity offering, raising gross proceeds at an average price per share of $6.10, a 3.7% premium over its VWAP. The funds will support ongoing technical development and business operations, with the company's cash balance now approximately $320 million. A press release detailing the offering is furnished as Exhibit 99.1.
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Exhibits (1)
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About D-Wave Quantum Inc.
D-Wave Quantum Inc. is a leading developer and provider of quantum computing systems, software, and services with a unique focus on addressing real-world complex computational challenges. As a pioneer in the commercial quantum computing space, the company is dedicated to advancing both hardware and software solutions to fuel new possibilities in data processing and optimization. D-Wave’s quantum systems are utilized across various industries, including manufacturing, logistics, pharmaceuticals, and financial services, fostering advancements in machine learning, modeling, and optimization problems. Notably, the company’s platform integrates with conventional computing systems, providing hybrid quantum solutions that enhance processing efficiency. D-Wave Quantum Inc.’s contributions are pivotal in steering the technological curve towards quantum advantage, allowing businesses and researchers to explore new horizons in computational capabilities. By offering quantum cloud services, the company lowers the barrier for organizations to access and benefit from cutting-edge quantum technology. Headquartered in Burnaby, Canada, D-Wave continues to be a significant player in the tech industry, aggressively pushing the boundaries of quantum computing and establishing itself as a key influencer in the evolution of computing paradigms.
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