IonQ (IONQ) prices $1 billion equity offering with Heights Capital

IonQ Inc. (NYSE: IONQ) announced the pricing of a $1 billion equity offering purchased by Heights Capital Management Inc. The quantum computing company sold 14,165,708 shares of common stock and pre-funded warrants for 3,855,557 shares, each priced at $55.49 per share.

The offering represents approximately a 25% premium to IonQ's closing stock price on July 3, 2025. The transaction also includes seven-year warrants to purchase 36,042,530 additional shares at an exercise price of $99.88 per share, provided at no additional consideration.

IonQ's CEO Niccolo de Masi stated the transaction will result in approximately $1.68 billion of pro-forma cash as of March 31, 2025. The company described the investment as the largest common-stock single-institutional investment in quantum industry history.

J.P. Morgan served as the sole underwriter for the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP represented IonQ, while Simpson Thacher & Bartlett LLP served as legal counsel to J.P. Morgan. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to Heights Capital Management.

The securities were offered through a shelf registration statement filed with the Securities and Exchange Commission. IonQ operates quantum computing systems including IonQ Forte and IonQ Forte Enterprise, serving customers through major cloud providers.

The company has partnerships with Amazon Web Services, AstraZeneca and NVIDIA. IonQ's quantum networking solutions are used by telecommunications companies and financial institutions, according to the company's press release.

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