Curated News
By: NewsRamp Editorial Staff
December 16, 2024
D-Wave Quantum Completes $175M Equity Offering
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- D-Wave Quantum (NYSE: QBTS) completed $175 million equity offering programs, achieving financial advantage.
- D-Wave Quantum plans to use the funds to support working capital, capital expenditures, and technical development for its quantum computing systems.
- D-Wave's mission is to unlock the power of quantum computing for practical applications, benefiting business and society.
- D-Wave's successful completion of $175 million in gross proceeds marks a significant milestone in the advancement of quantum computing technology.
Impact - Why it Matters
This news matters as it reflects D-Wave's successful fundraising efforts, which will help drive commercial adoption of quantum computing. The company's advancements in quantum technology could have far-reaching impacts across industries, from logistics and AI to cybersecurity and drug discovery.
Summary
D-Wave Quantum (NYSE: QBTS), a leader in quantum computing, has successfully completed a $175 million equity offering. The company expects to end Q4 2024 with over $160 million in cash, which will be used for working capital, capex, and technical development. CEO Dr. Alan Baratz emphasized the importance of the funding for executing product and go-to-market strategies.
Source Statement
This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, D-Wave Quantum Completes $175M Equity Offering
