D-Wave Quantum Inc (NYSE:QBTS) shares are trading higher. The company on Tuesday announced the successful completion of its at-the-market offering.
What Happened: D-Wave said it successfully sold $400 million of its common stock, completing the offering that the company commenced on June 11. The offering was completed at an average price of $15.18 per share.
D-Wave noted that the gross proceeds from the offering bring its current cash balance up to approximately $815 million. The company intends to use the proceeds for strategic acquisitions and general corporate purposes.
“With what we believe to be the strongest balance sheet of any public, independent quantum computing company, we intend to invest in acquisitions and programs that will enable us to expand our already significant lead as the only commercial quantum computing company with applications in production,” said Alan Baratz, CEO of D-Wave.
How To Buy QBTS Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in D-Wave's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
QBTS Price Action: D-Wave Quantum shares were up 4.51% at $15.30 at the time of publication Tuesday, according to Benzinga Pro.
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Photo: courtesy of D-Wave Quantum.
