D-Wave Quantum Inc. completed the redemption of all outstanding public warrants to purchase shares of the Company's common stock.
A total of 4,746,358 warrants were exercised for approximately 6.9 million shares of Common Stock at $11.50 per warrant, resulting in cash proceeds of approximately $54.6 million.
Following the redemption, no warrants are outstanding, and the common stock continues to trade on the NYSE under the symbol 'QBTS'.
Redemption Completion
D-Wave completed the redemption of all outstanding public warrants, generating significant cash proceeds for the Company.
Warrant Exercise
4,746,358 warrants were exercised, leading to the issuance of 6.9 million shares of Common Stock.
Trading Suspension
The warrants ceased trading on the NYSE, and the common stock continues to trade under the symbol 'QBTS'.
- The redemption of warrants and the subsequent exercise have strengthened D-Wave's financial position.
- With no outstanding warrants, the Company's equity structure is simplified, potentially increasing investor confidence.
The completion of the warrant redemption marks a significant milestone for D-Wave Quantum Inc., enhancing its financial stability and operational focus in the quantum computing industry.