D-Wave Quantum Inc.
D-Wave Quantum Announces Non-Compliance with NYSE Listing Standard
Summary
D-Wave Quantum Inc. received notice from the NYSE on October 2, 2024, that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual due to its average closing stock price being less than $1.00 over a consecutive 30-trading-day period. The company notified the NYSE on October 4, 2024, that it intends to cure the deficiency and return to compliance within six months. D-Wave plans to consider alternatives, including a reverse stock split, subject to shareholder approval. The company's stock will continue to be listed on the NYSE during this period.
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About D-Wave Quantum Inc.
D-Wave Quantum Inc. is a leading developer and provider of quantum computing systems, software, and services with a unique focus on addressing real-world complex computational challenges. As a pioneer in the commercial quantum computing space, the company is dedicated to advancing both hardware and software solutions to fuel new possibilities in data processing and optimization. D-Wave’s quantum systems are utilized across various industries, including manufacturing, logistics, pharmaceuticals, and financial services, fostering advancements in machine learning, modeling, and optimization problems. Notably, the company’s platform integrates with conventional computing systems, providing hybrid quantum solutions that enhance processing efficiency. D-Wave Quantum Inc.’s contributions are pivotal in steering the technological curve towards quantum advantage, allowing businesses and researchers to explore new horizons in computational capabilities. By offering quantum cloud services, the company lowers the barrier for organizations to access and benefit from cutting-edge quantum technology. Headquartered in Burnaby, Canada, D-Wave continues to be a significant player in the tech industry, aggressively pushing the boundaries of quantum computing and establishing itself as a key influencer in the evolution of computing paradigms.
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