Rigetti Completes $100M Equity Offering

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announced the completion of sales of $100 million gross proceeds of common stock under its at-the-market equity offering program. The Company received approximately $58.4 million in net proceeds after deducting commissions and offering expenses. Rigetti intends to use the funds for working capital, capital expenditures, and other general corporate purposes. The Company believes its existing cash, cash equivalents, and marketable securities should be sufficient to support its operations through the end of 2026.

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About Rigetti Computing Inc.

Rigetti Computing Inc. is at the forefront of a burgeoning sector within the technology industry, specializing in quantum computing. The company's main objective is to develop and commercialize quantum computing solutions that can outperform classical computers in specific tasks, which holds promise for industries like pharmaceuticals, finance, and artificial intelligence. Rigetti's pioneering efforts aim to harness the principles of quantum mechanics to create advanced hardware and cloud platforms that enable complex problem-solving and optimization capabilities. Founded in 2013 and headquartered in Berkeley, California, Rigetti endeavors to merge cutting-edge quantum technology with practical applications, potentially revolutionizing computational methods across various domains. By building a quantum computing ecosystem, Rigetti Computing Inc. plays a crucial role in advancing the technological paradigm, making it a significant entity within the rapidly evolving landscape of modern computing.