Exhibit 99.1
COLLEGE PARK, MD — MARCH 10, 2025
IonQ Raises Over $372
Million
Via At-the-Market Equity
Offering Program.
Pro forma
year-end cash now over $700 million
At-the-Market Program has been terminated
COLLEGE PARK, MD – (March 10, 2025) –IonQ, Inc. (NYSE: IONQ), a leader in the quantum computing and quantum networking industries, today announced that under
its “at-the-market” equity offering program (the “ATM Program”) it has sold a total of 16,038,460 shares of its common stock for an aggregate amount
of approximately $372.6 million, netting aggregate proceeds of approximately $360 million.
The Company has determined that it has raised a sufficient
amount under the program to meet its currently anticipated capital needs. The Company also determined that given overall recent market disruptions, the trading prices for its shares, and the overhang from having an ATM Program in effect, the ATM
Program should be terminated. The Company has therefore terminated the ATM Program today and a prospectus supplement will be filed under Rule 424(c) reflecting such termination.
Niccolo De Masi, the Company’s President and CEO, said “We are pleased to have been able to raise over $350 million, even in the recent turbulent
markets. On a pro-forma basis, this brings our cash balance on December 31, 2024 to over $700 million. We are confident that we now have the capital we need for continued global leadership in both
our quantum computing and quantum networking divisions.”
The Company noted that while, following the termination of the ATM Program, the Company’s
officers and directors generally would not be limited in their ability to sell shares during the Company’s current open trading window through March 14, 2025, none of the Company’s executive officers or directors intend to sell any
shares during the trading window, except our Executive Chair, Peter Chapman.* Mr. Chapman has previously disclosed that he may sell shares during the window, and he may exercise options for up to 2.0 million shares and sell those shares to
meet near term capital needs related to a personal real estate purchase and to pay taxes associated with option exercises. Mr. Chapman hasn’t exercised options or sold any shares over the past six years, and what he may sell represents
less than 23 percent of his vested equity interest in the Company.
| * |
Excludes shares sold to cover statutory tax withholding obligations in connection with the vesting of restricted stock
units. |
