Rigetti Computing Announces Registered Direct Offering

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announced the entry into securities purchase agreements with two institutional investors for a registered direct offering. The offering includes the sale of 50,000,000 shares of common stock at $2.00 per share, with gross proceeds expected to be approximately $100 million. Rigetti intends to use the net proceeds for working capital and general corporate purposes, believing it will sufficiently fund its current operations. The offering is expected to close on November 27, 2024, subject to customary conditions.

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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.