IonQ (NYSE:IONQ) stock was trading lower as the quantum company priced a $2B offering of 16.5M shares of common stock at $93 per share.
The equity offering also consisted of pre-funded warrants to purchase 5,005,400 shares at $93 per pre-funded warrant.
Shares were -2.45% Friday pre-market to $75.60.
The price represented a premium of 20% to IonQ’s closing stock price on October 9.
The offering also included seven-year warrants to purchase 43,010,800 additional shares, which can be exercised at $155 per share.
“We believe this is the largest common-stock single-institutional investment in the history of the quantum industry,” said CEO Niccolo de Masi.
“This $2 billion cash investment will facilitate our global growth and accelerate our quantum commercialization worldwide,” added the CEO.