IonQ Raises Over $372 Million Through At-The-Market Equity Offering; Cash Balance Now Exceeds $700 Million

IonQ Raises Over $372 Million Via At-The-Market Equity Offering Program

IonQ, Inc., a leader in quantum computing and networking, has successfully raised over $372 million through its at-the-market equity offering program. The company sold 16,038,460 shares of common stock, generating net proceeds of approximately $360 million. This funding brings IonQ’s pro forma year-end cash balance to over $700 million as of December 31, 2024. The company has terminated its at-the-market program, citing recent market disruptions and trading price considerations.

The termination of the ATM Program reflects IonQ’s assessment that it has secured sufficient capital to meet its current needs while addressing potential market impacts. CEO Niccolo De Masi expressed confidence in the company’s ability to maintain global leadership in both quantum computing and networking with this financial backing. The funds will support ongoing operations and growth initiatives across these sectors.

Notably, IonQ’s executive chair, Peter Chapman, may sell up to 2.0 million shares during the current trading window to address personal real estate needs and tax obligations related to option exercises. This potential sale represents less than 23% of his vested equity interest in the company. Chapman has not sold any shares or exercised options over the past six years.

IonQ Terminates Its At-The-Market Program Amid Market Disruptions

The termination of IonQ’s at-the-market program was driven by a combination of factors, including recent market disruptions and trading price considerations. The company concluded that the ATM Program had served its purpose, having raised sufficient capital to meet its current needs. This decision aligns with IonQ’s strategic focus on maintaining financial stability while navigating market uncertainties.

The funds raised through the equity offering program have significantly bolstered IonQ’s cash position, providing a strong foundation for its ongoing operations and growth initiatives in both quantum computing and networking. CEO Niccolo De Masi emphasized the company’s confidence in its ability to maintain global leadership across these sectors with the capital now available.

In addition to the ATM Program termination, IonQ highlighted that while its executives generally retain the option to sell shares during the current trading window, none intend to do so except for Peter Chapman, the Executive Chair. Chapman may exercise options for up to 2.0 million shares and sell those shares to address personal financial obligations, including a real estate purchase and tax payments related to option exercises. This potential sale represents less than 23% of his vested equity interest in the company, underscoring his long-term commitment to IonQ’s success.

Leadership and Future Directions at IonQ

Niccolo De Masi, IonQ’s CEO, has expressed confidence in the company’s ability to maintain global leadership in quantum computing and networking following the termination of its at-the-market (ATM) program. The decision to halt the ATM program was driven by recent market disruptions and trading price considerations, reflecting IonQ’s strategic focus on financial stability.

The funds raised through the equity offering will support ongoing operations and growth initiatives across the quantum computing and networking sectors. CEO Niccolo De Masi emphasized the company’s confidence in maintaining global leadership with this available capital.

Peter Chapman, IonQ’s executive chair, may sell up to 2.0 million shares during the current trading window to address personal financial obligations, including a real estate purchase and tax payments related to option exercises. This potential sale represents less than 23% of his vested equity interest in the company, underscoring his long-term commitment to IonQ’s success.