Insider Brief:
- IonQ raised approximately $360 million through its at-the-market equity offering program, selling over 16 million shares of common stock.
- With over $700 million in cash on a pro-forma basis, IonQ has determined that it has sufficient capital for its quantum computing and quantum networking divisions and has terminated the ATM Program.
- IonQ’s executives and directors do not plan to sell shares during the current trading window, except for Executive Chair Peter Chapman, who may sell up to 2 million shares to cover taxes and a personal real estate purchase.
- A prospectus supplement will be filed under Rule 424(c) to reflect the termination of the ATM Program.
PRESS RELEASE — IonQ, Inc., a company in the quantum computing and quantum networking industries, today announced that under its “at-the-market” equity offering program it has sold a total of 16,038,460 shares of its common stock for an aggregate amount of approximately $372.6 million, netting aggregate proceeds of approximately $360 million.
The Company has determined that it has raised a sufficient amount under the program to meet its currently anticipated capital needs. The Company also determined that given overall recent market disruptions, the trading prices for its shares, and the overhang from having an ATM Program in effect, the ATM Program should be terminated. The Company has therefore terminated the ATM Program today and a prospectus supplement will be filed under Rule 424(c) reflecting such termination.
Niccolo De Masi, the Company’s President and CEO, said “We are pleased to have been able to raise over $350 million, even in the recent turbulent markets. On a pro-forma basis, this brings our cash balance on December 31, 2024 to over $700 million. We are confident that we now have the capital we need for continued global leadership in both our quantum computing and quantum networking divisions.”
The Company noted that while, following the termination of the ATM Program, the Company’s officers and directors generally would not be limited in their ability to sell shares during the Company’s current open trading window through March 14, 2025, none of the Company’s executive officers or directors intend to sell any shares during the trading window, except our Executive Chair, Peter Chapman.* Mr. Chapman has previously disclosed that he may sell shares during the window, and he may exercise options for up to 2.0 million shares and sell those shares to meet near term capital needs related to a personal real estate purchase and to pay taxes associated with option exercises. Mr. Chapman hasn’t exercised options or sold any shares over the past six years, and what he may sell represents less than 23 percent of his vested equity interest in the Company.
*Excludes shares sold to cover statutory tax withholding obligations in connection with the vesting of restricted stock units.
About IonQ
IonQ, Inc. is a leader in the quantum computing and networking industries, delivering high-performance systems aimed at solving the world’s largest and most complex commercial and research use cases. IonQ’s current generation quantum computers, IonQ Forte and IonQ Forte Enterprise, are the latest in a line of cutting-edge systems, boasting 36 algorithmic qubits. The company’s innovative technology and rapid growth were recognized in Newsweek’s 2025 Excellence Index 1000, Forbes’ 2025 Most Successful Mid-Cap Companies list, and Built In’s 2025 100 Best Midsize Places to Work in Washington DC and Seattle, respectively. Available through all major cloud providers, IonQ is making quantum computing more accessible and impactful than ever before. Learn more at IonQ.com.
SOURCE: IonQ
