Quantum computing company Rigetti has raised $100 million through the sale of common stock, as part of its “at-the-market” equity offering program that began in March. The funds will be used for working capital, capital expenditures, and other general corporate purposes. The company has a current market cap of around $525m.

Shares of Rigetti Computing surged after the company said it had successfully completed a sale of $100 million in common stock via an "at-the-market" equity offering. Shares gained about 70% to $2.96, and earlier hit a new 52-week high at $2.98.

Rigetti Computing (RGTI) has entered into securities purchase agreements with two institutional investors for the purchase and sale of

Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced that it has entered into securities purchase agreements with two institutional investors for the purchase and sale of 50,