D-Wave QBTS Stock Dips on Merger-Related $275M Stock Issuance Disclosure

D-Wave Quantum Inc. disclosed a Form D showing nearly $275 million in common stock issued as merger consideration to former Quantum Circuits equityholders, not a cash raise, with no money raised and no ongoing offering; the share issuance effectively diluted shares at merger close, and QBTS fell about 8.6% to $21.22 as other quantum stocks dropped, while the Street’s consensus remains bullish on QBTS with a Strong Buy and an average target around $40.38, implying roughly 90% upside.