08:21 AM EST, 01/23/2025 (MT Newswires) -- D-Wave Quantum ( QBTS ) said Thursday that it completed the sale of $150 million in common stock under its 'at-the-market' equity offering program.

The company said the offering, which took place from Jan. 15 to Jan. 21, raised funds at an average price of $6.10 per share, a 3.7% premium over the stock's volume-weighted average price.

D-Wave Quantum ( QBTS ) said its cash balance stands at about $320 million after the completion of the program.

It added that the proceeds will be used for working capital and capital expenditures and to support ongoing technical development and business operations.