Quantum computing firm IonQ rises after premium-priced $1 bln equity offering

ReutersJul 7, 2025 1:26 PM

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Shares of IonQ IONQ.N up 3.3% to $45.84 premarket after quantum computing and networking firm clinches $1 bln equity raise

College Park, Maryland-based IONQ announces pricing ~18.1 mln shares, including ~3.9 mln prefunded warrants, to be purchased by Heights Capital Management for $1 bln gross proceeds

Offering price of $55.49 is 25% above stock's last close on Jul 3

It also issues 7-yr warrants to buy 36 mln additional shares, for no additional consideration, at exercise price of $99.88

Co intends to use net offering proceeds for working capital and other general purposes, adding it may use a portion for strategic acquisitions and partnerships, per the prospectus

JP Morgan sole underwriter for the offering

Through last close, IONQ shares up 6% YTD. Stock was trading around $7.50 a year ago

5 of 6 analysts covering IONQ rate stock "buy", 1 rates "hold" and the median PT is $47.50, per LSEG data

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