Stock Track | D-Wave Systems Inc. Soars 8.01% as $175M Equity Offering Boosts Cash Reserves

Stock Track

Dec 12, 2024

Shares of quantum computing company D-Wave Systems Inc. (NYSE: QBTS) surged 8.01% in the pre-market trading session on Thursday, outperforming the broader market. The stock's remarkable rally came on the heels of the company's announcement regarding the successful completion of its $175 million "at-the-market" equity offering programs.

According to D-Wave, the recently completed $75 million offering program was oversubscribed, with shares being sold at an average price of $4.8149 per share, higher than the Volume Weighted Average Price (VWAP) of $4.6625 during the same three-day period. The company expects to end the fiscal fourth quarter of 2024 with at least $160 million in cash reserves.

The substantial cash influx positions D-Wave favorably, strengthening its financial position and enabling the company to execute its product roadmaps and go-to-market strategies more effectively. D-Wave's CEO, Dr. Alan Baratz, expressed confidence in the company's annealing quantum computing technology, which he believes is serving as a catalyst for the increasing commercial adoption of quantum computing solutions.

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(NYSE: QBTS) surged 8.01% in the pre-market trading session on Thursday, outperforming the broader market. The stock's remarkable rally came on the heels of the company's announcement regarding the successful completion of its $175 million \"at-the-market\" equity offering programs.</p>\n\n<p>According to D-Wave, the recently completed $75 million offering program was oversubscribed, with shares being sold at an average price of $4.8149 per share, higher than the Volume Weighted Average Price (VWAP) of $4.6625 during the same three-day period. The company expects to end the fiscal fourth quarter of 2024 with at least $160 million in cash reserves.</p>\n\n<p>The substantial cash influx positions D-Wave favorably, strengthening its financial position and enabling the company to execute its product roadmaps and go-to-market strategies more effectively. 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Soars 8.01% as $175M Equity Offering Boosts Cash Reserves\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-12-12 22:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Shares of quantum computing company D-Wave Systems Inc. (NYSE: QBTS) surged 8.01% in the pre-market trading session on Thursday, outperforming the broader market. 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