IonQ prices a $2.0 billion equity offering bought by Heights Capital Management

IonQ

IonQ priced a $2.0 billion stock offering at $40 per unit, sold to an entity managed by Heights Capital Management with J.P. Morgan as sole underwriter. The company says the money will fund commercialization of its full-stack quantum platform and give it room to act strategically.

• IonQ sold 20.5 million common shares and 29.5 million pre-funded warrants, each at $40.00, about 15% above its October 13 closing price.
• The deal also includes 100 million seven-year warrants at $69.46 per share, a 100% premium to the October 13 close.
• The offering was registered under an effective shelf registration statement filed with the SEC.
• IonQ has advanced to Stage C of DARPA's Quantum Benchmarking Initiative, according to the article.