IonQ’s $1.3B Elisity Acquisition and the Shareholder Cost

IonQ has agreed to acquire cybersecurity firm Elisity for as much as $1.3 billion in stock, with up to $150 million tied to performance milestones. The deal is expected to close in the fourth quarter, pending regulatory approval. Because the final share count depends on a 20-day volume-weighted average price between $33.07 and $49.61, a lower reference price would require more shares to be issued for the same dollar amount.
EXPANDED:
IonQ said on Oct. 12, 2026, it would acquire Elisity for up to $1.3 billion in stock, with as much as $150 million tied to performance. The deal is expected to close in Q4, pending regulatory and other customary approvals. The final share count depends on a 20-trading-day VWAP between $33.07 and $49.61; a lower reference price means more shares for