D-Wave Quantum Acquires Qubits, Inc.
Ticker: QBTS · Form: 8-K · Filed: Jun 3, 2024 · CIK: 1907982
Sentiment: neutral
Topics: acquisition, technology, quantum-computing
Related Tickers: QBTS
TL;DR
D-Wave is buying Qubits, Inc. to boost its quantum tech game.
AI Summary
D-Wave Quantum Inc. announced on June 3, 2024, that it has entered into a definitive agreement to acquire substantially all of the assets of Qubits, Inc. The acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions. This move aims to enhance D-Wave's quantum computing capabilities.
Why It Matters
This acquisition by D-Wave Quantum Inc. is expected to bolster its position in the quantum computing market by integrating Qubits, Inc.'s technology and talent.
Risk Assessment
Risk Level: medium — The acquisition is subject to closing conditions, and the integration of Qubits, Inc.'s assets may present challenges.
Key Players & Entities
- D-Wave Quantum Inc. (company) — Acquiring company
- Qubits, Inc. (company) — Acquired company
- June 3, 2024 (date) — Announcement date
- third quarter of 2024 (date) — Expected closing period
FAQ
What is the primary purpose of this filing?
This filing is a Form 8-K reporting the definitive agreement for D-Wave Quantum Inc. to acquire substantially all of the assets of Qubits, Inc.
Who are the parties involved in the acquisition?
D-Wave Quantum Inc. is acquiring substantially all of the assets of Qubits, Inc.
When was the definitive agreement announced?
The definitive agreement was announced on June 3, 2024.
When is the acquisition expected to close?
The acquisition is expected to close in the third quarter of 2024.
What are the conditions for the acquisition to close?
The acquisition is subject to customary closing conditions.
Filing Stats: 585 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-06-03 16:21:07
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-20240603.htm (8-K) — 31KB
- d-wavequantumfeaturedinfir.htm (EX-99.1) — 6KB
- 0001907982-24-000070.txt ( ) — 202KB
- qbts-20240603.xsd (EX-101.SCH) — 2KB
- qbts-20240603_def.xml (EX-101.DEF) — 15KB
- qbts-20240603_lab.xml (EX-101.LAB) — 27KB
- qbts-20240603_pre.xml (EX-101.PRE) — 16KB
- qbts-20240603_htm.xml (XML) — 4KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On June 3, 2024, D-Wave Quantum Inc. ("D-Wave") issued a press release announcing that it has posted a recording of its recent fireside chat at the 19th Annual Needham Technology, Media and Consumer Conference, in which D-Wave CEO Dr. Alan Baratz, D-Wave CFO John Markovich and Needham senior analyst Quinn Bolton addressed a variety of topics related to the company's leadership in the quantum computing industry. A copy of the press release is attached as Exhibit 99.1. 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 99.1 Press release, dated June 3, 2024. 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: June 3, 2024 D-Wave Quantum Inc. By: /s/ Alan Baratz Name: Alan Baratz Title: President & Chief Executive Officer