The quantum computing startup launched the at-the-market equity offer, a type of follow-on stock offering, on Monday. British Columbia-founded D-Wave estimated it will end the year with at least US$160 million in cash, following an earlier US$100 million offering in May. (The Logic)
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The quantum computing startup launched the at-the-market equity offer, a type of follow-on stock offering, on Monday. British Columbia-founded D-Wave estimated it will end the year with at least US$160 million in cash, following an earlier US$100 million offering in May. (The Logic)
Talking point: The successful fundraise strengthens D-Wave’s push to demonstrate quantum computing’s business potential. The firm expects to lose less than the US$54.3 million it did last year, when it made US$8.8 million in revenue. D-Wave’s share price rose as much as 20.2 per cent in Friday trading, and is closing out the year significantly higher than it started. Meanwhile, the Public Sector Pension Investment Board, a major investor, this week sold some of its stake in D-Wave for about US$78.8 million, retaining a million shares of common stock, according to a regulatory filing.
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