D-Wave Quantum Sells US Gov Business for $15M

TL;DR

D-Wave selling US gov biz to GIP for $15M cash to focus on quantum.

AI Summary

D-Wave Quantum Inc. announced on March 4, 2024, that it has entered into a definitive agreement to sell its U.S. government business, known as "D-Wave Government", to an affiliate of Global Infrastructure Partners (GIP) for $15 million in cash. This strategic divestiture is expected to close in the second quarter of 2024, subject to customary closing conditions.

Why It Matters

This sale allows D-Wave Quantum to focus on its core quantum computing business and improve its financial position by divesting a non-core asset.

Risk Assessment

Risk Level: medium — The sale price is relatively small compared to the company's overall valuation, and the focus on core business may indicate challenges in other areas.

Key Numbers

• $15 million — Sale Price (Cash received for D-Wave Government)

Key Players & Entities

• D-Wave Quantum Inc. (company) — Seller
• D-Wave Government (company) — Divested Business Unit
• Global Infrastructure Partners (GIP) (company) — Buyer
• $15 million (dollar_amount) — Sale Price
• March 4, 2024 (date) — Announcement Date
• second quarter of 2024 (date) — Expected Closing Period

FAQ

Key Financial Figures

• $0.0001 — ich registered Common stock, par value $0.0001 per share QBTS New York Stock Exchange
• $11.50 — of common stock at an exercise price of $11.50 QBTS.WT New York Stock Exchange Indic

Filing Documents

• qbts-20240304.htm (8-K) — 31KB
• 0001907982-24-000026.txt ( ) — 196KB
• qbts-20240304.xsd (EX-101.SCH) — 2KB
• qbts-20240304_def.xml (EX-101.DEF) — 15KB
• qbts-20240304_lab.xml (EX-101.LAB) — 30KB
• qbts-20240304_pre.xml (EX-101.PRE) — 16KB
• qbts-20240304_htm.xml (XML) — 4KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On March 4, 2024, D-Wave Quantum Inc. (the "Company") posted the link to a scientific paper titled "Computational supremacy in quantum simulation", on its website at https://www.dwavesys.com/learn/publications/. The paper, which we believe is the first demonstration of quantum supremacy on an important, real-world problem, discusses how the Company has demonstrated computational supremacy in the quantum simulation of nonequilibrium magnetic spin dynamics. The paper has been submitted for peer-review to a scientific journal and is currently available on the online preprint server, https://arxiv.org/ . Preprint papers on arXiv are not final and have not yet been peer-reviewed; they are intended to quickly disseminate findings to the scientific community. The Company undertakes no obligation to update, supplement or amend the materials attached hereto or referenced herein. The information in this Item 7.01 to this Current Report on Form 8-K is intended to be furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits . (d) Exhibits Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 5, 2024 D-Wave Quantum Inc. By: /s/ Alan Baratz Alan Baratz President & Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR