D-Wave Quantum (QBTS) disclosed last night that on June 10, it entered into a sales agreement with Needham, Evercore, TD Securities, Canaccord Genuity, Mizuho Securities, Piper Sandler, Craig-Hallum and Rosenblatt Securities pursuant to which the company may sell from time to time shares of common stock through or to the agents. D-Wave may offer and sell shares of its common stock having an aggregate offering price of up to $400M from time to time. As previously disclosed, management believes the company’s cash balance as of March 31 is sufficient to fund the company to profitability. D-Wave intends to use the proceeds from any sales for general corporate purposes.
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