Company: IONQ
Filing Date: 2025-10-10
Form Type: 424B5
Source: 0001193125-25-236452
Chunk: 39

Company: IonQ, Inc.
Filing Date: 2025-10-10
Form: 424B5
Chunk 39
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 a realization event or because the exercise is treated as a recapitalization for United States federal income tax purposes. In either situation, a U.S.
holder’s tax basis in the Warrant Shares would generally equal the holder’s tax basis in the Series B Warrants. If the cashless exercise were treated as not being a realization event, it is unclear whether a U.S. holder’s holding
period for the Warrant Shares would commence on the date of exercise of the Series B Warrants or the day following the date of exercise of the Series B Warrants. If, however, the cashless exercise were treated as a recapitalization, the holding
period of the Warrant Shares would include the holding period of the Series B Warrants.

It is also possible that a cashless exercise
could be treated in part as a taxable exchange in which gain or loss is recognized. In such event, a U.S. holder would be deemed to have surrendered a number of Series B Warrants having a value equal to the exercise price for the total number of
Series B Warrants to be exercised. The U.S. holder would recognize capital gain or loss in an amount equal to the difference between the fair market value of the Series B Warrants deemed surrendered and the U.S. holder’s tax basis in the
Series B Warrants deemed surrendered. In this case, a U.S. holder’s tax basis in the Warrant Shares would equal the sum of the U.S. holder’s tax basis in the Series B Warrants deemed exercised and the exercise price of such Series B
Warrants. It is unclear whether a U.S. holder’s holding period for Warrant Shares would commence on the date of exercise of the Series B Warrants or the day following the date of exercise of the Series B Warrants; however, in either case the
holding period will not include the period during which the U.S. holder held the Series B Warrants.

Due to the absence of authority on
the United States federal income tax treatment of a cashless exercise, including when a U.S. holder’s holding period would commence with respect to the Warrant Shares received, there can be no assurance which, if any, of the alternative tax
consequences and holding periods described above would be adopted by the IRS or a court of law.

U.S. holders are urged to consult their
own tax advisors regarding the United States federal income tax consequences of a cashless exercise of Series B Warrants.

Disposition of Series B Warrants

A U.S