IonQ Inc. (NYSE: IONQ) bulls may have balked when the market responded to the company's mid-October announcement that it would acquire cybersecurity provider Elisity by sending shares plunging by 9%.
Nonetheless, the response makes sense: investors are likely concerned about the dilutive impact of the deal, particularly in combination with a concurrent $2-billion equity offering, given the potential that the acquisition could increase the number of IONQ shares by a substantial margin.
