D-Wave Quantum Closes $20M Private Placement
Ticker: QBTS · Form: 8-K · Filed: Mar 4, 2024 · CIK: 1907982
Sentiment: neutral
Topics: financing, private-placement, capital-raise
Related Tickers: DWAVE
TL;DR
DWAVE closed a $20M private placement, boosting cash for R&D and operations.
AI Summary
On March 4, 2024, D-Wave Quantum Inc. announced the closing of its previously disclosed private placement of common stock and warrants. The company raised approximately $20 million in gross proceeds from this offering, which was led by existing investors. D-Wave Quantum Inc. intends to use the net proceeds for general corporate purposes, including research and development and working capital.
Why It Matters
This capital infusion provides D-Wave Quantum with additional resources to fund its operations and strategic initiatives, potentially impacting its ability to advance its quantum computing technology.
Risk Assessment
Risk Level: medium — While the capital raise is positive, the company's reliance on private placements and ongoing need for funding suggests continued financial risk.
Key Numbers
- $20.0M — Gross Proceeds (Raised from private placement of common stock and warrants.)
Key Players & Entities
- D-Wave Quantum Inc. (company) — Registrant
- March 4, 2024 (date) — Closing date of private placement
- $20 million (dollar_amount) — Gross proceeds from private placement
FAQ
What was the total amount of gross proceeds raised in the private placement?
D-Wave Quantum Inc. raised approximately $20 million in gross proceeds from the private placement.
When did D-Wave Quantum Inc. announce the closing of this private placement?
The closing of the private placement was reported on March 4, 2024.
What is the intended use of the net proceeds from this offering?
The company intends to use the net proceeds for general corporate purposes, including research and development and working capital.
Who were the primary participants in this private placement?
The offering was led by existing investors.
What type of securities were offered in this private placement?
The private placement involved common stock and warrants.
Filing Stats: 477 words · 2 min read · ~2 pages · Grade level 9.1 · Accepted 2024-03-04 17:27:37
Key Financial Figures
- $0.0001 — ich registered Common stock, par value $0.0001 per share QBTS New York Stock Exchange
- $11.50 — of common stock at an exercise price of $11.50 QBTS.WT New York Stock Exchange Indic
Filing Documents
- qbts-20240304.htm (8-K) — 30KB
- qbts-20240304xexx991.htm (EX-99.1) — 8KB
- 0001907982-24-000021.txt ( ) — 205KB
- qbts-20240304.xsd (EX-101.SCH) — 2KB
- qbts-20240304_def.xml (EX-101.DEF) — 15KB
- qbts-20240304_lab.xml (EX-101.LAB) — 30KB
- qbts-20240304_pre.xml (EX-101.PRE) — 16KB
- qbts-20240304_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events. On March 4, 2024, D-Wave Quantum Inc. (the "Company") issued a press release announcing that it had received a notice from the New York Stock Exchange (the "NYSE") that the Company had regained compliance with Section 802.01C of the NYSE Listed Company Manual. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits . (d) Exhibits Exhibit No. Description 99.1 Press Release, dated March 4, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 4, 2024 D-Wave Quantum Inc. By: /s/ Alan Baratz Alan Baratz President & Chief Executive Officer