D-Wave
Assembly Line
D-Wave completes $175-million USD stock sale to fuel quantum computing development
D-Wave Quantum has raised $175 million USD ($246 million CAD) in gross proceeds through a recent stock sale. The Canadian-founded, New York Stock Exchange (NYSE)-listed quantum computing company plans to use this capital to fuel its technical development efforts and business operations. Following this financing, D-Wave expects to close out 2024 with at least $160 million in cash.
Over the past two years, D-Wave has faced multiple non-compliance warnings for failing to meet the NYSE’s continued listing standard for minimum stock price, as its shares repeatedly fell below $1 apiece for more than 30 consecutive days.