D-Wave Quantum (NYSE:QBTS) said in a regulatory filing on Friday that it entered a sales agreement with agents, under which it may offer its common stock worth up to $150M.

Shares of D-Wave fell about 20% in morning trading on Monday.

The company had signed the agreement with Needham, Stifel, Nicolaus & Company, B. Riley Securities, Roth Capital Partners, The Benchmark Company and Craig-Hallum Capital, under which it may sell its common stock from time to time.

In a separate filing, the company said that its stockholder Public Sector Pension Investment Board would sell about 40.06M common shares with a market value of $244.34M.

The transaction is part of the merger with SPAC DPCM Capital, via which D-Wave went public in 2022.

The Public Sector Pension Investment Board had also sold shares in December 2024.

On Friday, said D-Wave had also said that its fiscal year 2024 bookings will likely top $23M, representing a growth of nearly 120% over fiscal year 2023 bookings.

Last week, shares of quantum computing focused companies slumped, after Nvidia's CEO Jensen Huang said that "very useful" quantum computers are over a decade away. However, D-Wave's CEO Alan Baratz did not agree with Huang's statement.

Shares of SEALSQ Corp (LAES) fell 17%, Quantum Corp (QMCO) fell 12%, Rigetti Computing (RGTI) fell 11%, Quantum Computing (QUBT) fell 9%, Arqit Quantum (ARQQ) fell 8%, Alphabet (GOOGL) fell 2%, IonQ (IONQ) fell 1%.