Quantum-computing firm Rigetti jumps after $350 mln equity offering

Rigetti Computing's RGTI.O shares up 10.8% to $12.45 on Weds after co completes equity raise

RGTI shares rose as much 20.5% to $13.56 on the session

Berkeley, California-based Rigetti early Weds says it raised $350 mln by selling ~30.3 mln shares under recently disclosed ATM (at-the-market) equity sales program in agreement with Jefferies

Avg sales price equates to around $11.55, according to Reuters calculation

It intends to use net proceeds for working capital, capex, and general purposes, including for future strategic collaborations or acquisitions

As of May 27, co had ~292.4 mln shares outstanding

RGTI shares also getting a boost on the session after Nvidia NVDA.O CEO Jensen Huang reiterated quantum computing technology is at an inflection point

Stock's 52-week intraday high is $21.42 (Jan 6) and 52-week low is 66 cents (Sept 9)

All 6 brokerages covering RGTI rate stock "buy" with median PT of $15, latest LSEG data shows