D-Wave Quantum (QBTS) has recently closed a $150 million equity offering, bringing its cash reserves to around $320 million. The company issued 33.3 million shares at an average price of $6.10 per share, which reflects a 3.7% premium over the average stock price during the offering period. The raised capital is expected to be used to support ongoing research and development efforts.
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This offering reflects a growing trend among quantum computing companies to raise capital to support their growth plans. Earlier this month, Quantum Computing (QUBT) raised $100 million through a stock offering.
QBTS Introduces Leap Quantum LaunchPad Program
To improve its growth prospects, D-Wave recently launched the Leap Quantum LaunchPad program, which offers qualified participants a 3-month free trial of the company’s Advantage quantum computers. These computers feature over 5,000 qubits and 15-way qubit connectivity, enabling users to solve larger and more complex problems. Also, program participants will gain access to D-Wave’s Leap quantum cloud service, renowned for its 99.9% uptime.
Through the LaunchPad program, D-Wave aims to accelerate the adoption of quantum computing by businesses and researchers.
Overall, the capital infusion and the launch of the Leap Quantum LaunchPad program reflect D-Wave’s commitment to solidify its position in the emerging quantum computing space.
Is QBTS a Good Stock to Buy?
Turning to Wall Street, QBTS stock has a Strong Buy consensus rating based on five Buys assigned in the last three months. At $6.56, the average D-Wave price target implies 8.79% upside potential. Shares of the company have climbed 515.31% over the past six months.
