Rigetti quantum computing company to go public through $1.5 billion merger deal with a SPAC

Dow Jones

Oct 06, 2021

MW Rigetti quantum computing company to go public through $1.5 billion merger deal with a SPAC

Rigetti & Co. Inc. announced plans to go public, as the full-stack quantum computing company agreed to merge with special-purpose acquisition company (SPAC) Supernova Partners Acquisition Co. II Ltd. $(SNII)$ in a deal valuing Rigetti at about $1.5 billion. Under terms of the deal, the combined company is expected to receive $458 million in gross cash proceeds. After the merger closes, the company will be named Rigetti Computing Inc. and is expected to list on the NYSE under the ticker symbol "RGTI." Rigetti said it will use the proceeds from the deal to accelerate the development of generations of quantum processors and grow its commercial business. Supernova Partners' stock, which started trading in April, rose 1.5% in premarket trading. It has edged up 0.4% over the past three months, while the Renaissance IPO ETF $(IPO.UK)$ has lost 3.3% and the S&P 500 has inched up 0.1%.

-Tomi Kilgore

$(END)$ Dow Jones Newswires

October 06, 2021 08:17 ET (12:17 GMT)

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Inc. announced plans to go public, as the full-stack quantum computing company agreed to merge with special-purpose acquisition company (SPAC) Supernova Partners Acquisition Co. II Ltd. <a href=\"https://laohu8.com/S/SNII\">$(SNII)$</a> in a deal valuing Rigetti at about $1.5 billion. Under terms of the deal, the combined company is expected to receive $458 million in gross cash proceeds. After the merger closes, the company will be named Rigetti Computing Inc. and is expected to list on the NYSE under the ticker symbol \"RGTI.\" Rigetti said it will use the proceeds from the deal to accelerate the development of generations of quantum processors and grow its commercial business. Supernova Partners' stock, which started trading in April, rose 1.5% in premarket trading. It has edged up 0.4% over the past three months, while the <a href=\"https://laohu8.com/S/IPO\">Renaissance IPO ETF</a> <a href=\"https://laohu8.com/S/IPO.UK\">$(IPO.UK)$</a> has lost 3.3% and the S&amp;P 500  has inched up 0.1%. \n</p>\n<p>\n  -Tomi Kilgore \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  October 06, 2021 08:17 ET (12:17 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rigetti quantum computing company to go public through $1.5 billion merger deal with a SPAC</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRigetti quantum computing company to go public through $1.5 billion merger deal with a SPAC\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-10-06 20:17</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Rigetti quantum computing company to go public through $1.5 billion merger deal with a SPAC\n</p>\n<p>\n  Rigetti &amp; Co. Inc. announced plans to go public, as the full-stack quantum computing company agreed to merge with special-purpose acquisition company (SPAC) Supernova Partners Acquisition Co. II Ltd. <a href=\"https://laohu8.com/S/SNII\">$(SNII)$</a> in a deal valuing Rigetti at about $1.5 billion. Under terms of the deal, the combined company is expected to receive $458 million in gross cash proceeds. After the merger closes, the company will be named Rigetti Computing Inc. and is expected to list on the NYSE under the ticker symbol \"RGTI.\" Rigetti said it will use the proceeds from the deal to accelerate the development of generations of quantum processors and grow its commercial business. Supernova Partners' stock, which started trading in April, rose 1.5% in premarket trading. 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Inc. announced plans to go public, as the full-stack quantum computing company agreed to merge with special-purpose acquisition company (SPAC) Supernova Partners Acquisition Co. II Ltd. $(SNII)$ in a deal valuing Rigetti at about $1.5 billion. Under terms of the deal, the combined company is expected to receive $458 million in gross cash proceeds. After the merger closes, the company will be named Rigetti Computing Inc. and is expected to list on the NYSE under the ticker symbol \"RGTI.\" Rigetti said it will use the proceeds from the deal to accelerate the development of generations of quantum processors and grow its commercial business. Supernova Partners' stock, which started trading in April, rose 1.5% in premarket trading. It has edged up 0.4% over the past three months, while the Renaissance IPO ETF $(IPO.UK)$ has lost 3.3% and the S&P 500  has inched up 0.1%. \n\n\n  -Tomi Kilgore \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  October 06, 2021 08:17 ET (12:17 GMT)\n\n\n  Copyright (c) 2021 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}