Quantum computing firm IonQ falls after $2 billion equity raise
IONQ•IONQ•IONQ•IONQ•IonQ shares fell 4.7% premarket after the company announced a $2 billion equity raise. The offering includes 20.5 million shares and pre-funded warrants to buy 29.5 million shares at $40 each, plus seven-year warrants to buy about 100 million additional shares.
IonQ is selling 20.5 million shares and pre-funded warrants to buy 29.5 million shares at $40. It is also selling seven-year warrants to buy about 100 million additional shares, with an exercise price of $69.46.
Heights Capital Management will purchase the securities from sole underwriter JP Morgan. IonQ intends to use the net proceeds for working capital and other general purposes, and may use some for strategic acquisitions and partnerships. The company had about 408.9 million shares outstanding as of October 13.
The equity raise comes days after IonQ said it would buy privately held cybersecurity firm Elisity for up to $1.3 billion.
