Rigetti Computing, Inc. Terminates Loan and Security Agreement

Details

terminated its Loan and Security Agreement with Trinity Capital Inc. by making a full payment of approximately $10.5 million, including the outstanding loan balance, accrued interest, fees, end-of-term payments, and a prepayment fee. This action effectively satisfied all the company's obligations under the agreement.

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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.