Overview

• IonQ priced a $2 billion offering comprising 16.5 million common shares at $93 and about 5 million pre-funded warrants at the same price.
• The company also issued seven-year warrants for roughly 43 million additional shares with a $155 exercise price.
• An entity managed by Heights Capital Management purchased the securities, concentrating the raise with a single institutional buyer.
• IonQ shares were recently down about 2% in premarket trading to roughly $76 following the announcement.
• The company points to its trapped-ion approach, cloud availability via AWS, Microsoft Azure and Google Cloud, and trailing 12-month revenue of about $52 million.