We recently published 10 Stocks With Massive Losses; AI Stocks Not Spared. D-Wave Quantum Inc. is one of the worst performers on Monday.
D-Wave Quantum extended its losing streak to a third straight day on Monday, losing 10.25 percent to close at $34.40 apiece as investors sold off positions following the official redemption of its outstanding warrants.
In a statement, D-Wave Quantum Inc. said that approximately 5 million warrants are currently outstanding and exercisable until November 19, 2025.
“If all of the outstanding warrants are exercised, approximately 7.2 million shares of common stock will be issued that will result in less than 2.1 percent dilution to existing shareholders,” D-Wave Quantum Inc. said.
Meanwhile, any unexercised warrant will be redeemed for $0.01 apiece upon expiration, in accordance with the terms of the company’s warrant agreement.
In other news, D-Wave Quantum Inc. said it recently partnered with Swiss Quantum Technology SA for the deployment of a D-Wave Advantage2 annealing quantum computer in Europe.
Photo by Anton Maksimov juvnsky on Unsplash
The agreement represents a 10 million euro commitment from Swiss Quantum, with an option to purchase the system.
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This article is originally published at Insider Monkey.
