IonQ Announces Pricing of $2.0 Billion Equity Offering

Insider Brief

• IonQ priced a $2 billion equity offering comprising 20.5 million common shares at $40 each, pre-funded warrants for 29.5 million shares at $40 each, and seven-year warrants for 100 million additional shares.
• The offering will be purchased by an entity managed by Heights Capital Management, with J.P. Morgan serving as the sole underwriter.
• IonQ said the proceeds will support commercialization of its quantum computing, networking, sensing and security businesses, while the offering includes warrants exercisable at $69.46 per share.

PRESS RELEASE — IonQ (NYSE: IONQ), a leading full-stack quantum platform and foundry, today announced the pricing of a $2.0 billion equity offering.

“This investment will accelerate the commercialization of our full-stack quantum platform and is a tremendous vote of confidence in the trailblazing innovation that has defined IonQ,” said Niccolo de Masi, Chairman and CEO of IonQ. “The significance of this raise goes beyond its size — giving IonQ additional strategic flexibility as the best-capitalized pure-play quantum company. Our advancement to Stage C of DARPA’s Quantum Benchmarking Initiative and NVIDIA partnership are both significant votes of confidence in our near-term technology roadmap.” De Masi continued, “With Q-Day quickly approaching, we are investing to advance the long-term path to profitability of our full-stack quantum computing, networking, sensing and security platform. IonQ is positioned to create strong value for shareholders by helping customers protect themselves today as we lead the way to manufacturing and deploying utility-scale quantum computing.”