D-Wave Quantum to Acquire Remaining D-Wave Government Stake
Ticker: QBTS · Form: 8-K · Filed: Jun 6, 2024 · CIK: 1907982
Sentiment: neutral
Topics: acquisition, subsidiary, quantum-computing, government
Related Tickers: DWAC
TL;DR
DWAVE buying out its gov subsidiary for $10M to fully integrate.
AI Summary
D-Wave Quantum Inc. announced on June 6, 2024, that it has entered into a definitive agreement to acquire the remaining outstanding shares of its subsidiary, D-Wave Government Inc., for approximately $10 million in cash. This acquisition aims to fully integrate D-Wave Government's operations and technology into the parent company, enhancing its quantum computing solutions for government and defense sectors.
Why It Matters
This move consolidates D-Wave's quantum computing capabilities, potentially accelerating its strategy and market penetration in the government sector.
Risk Assessment
Risk Level: medium — The acquisition involves a cash payout and integration challenges, which could impact D-Wave's financial flexibility and operational execution.
Key Numbers
- $10.0M — Acquisition Cost (Cash to be paid for the remaining shares of D-Wave Government Inc.)
Key Players & Entities
- D-Wave Quantum Inc. (company) — Registrant
- D-Wave Government Inc. (company) — Subsidiary being acquired
- $10 million (dollar_amount) — Cash consideration for acquisition
- June 6, 2024 (date) — Date of report and event
FAQ
What is the primary purpose of D-Wave Quantum Inc. acquiring the remaining shares of D-Wave Government Inc.?
The primary purpose is to fully integrate D-Wave Government's operations and technology into D-Wave Quantum Inc.
What is the total cash consideration for the acquisition?
The total cash consideration is approximately $10 million.
When was this acquisition agreement announced or reported?
The agreement was reported on June 6, 2024.
What is the legal structure of the transaction?
D-Wave Quantum Inc. is acquiring the remaining outstanding shares of its subsidiary, D-Wave Government Inc.
What is the expected impact of this acquisition on D-Wave Quantum's business?
The acquisition is expected to enhance D-Wave Quantum's quantum computing solutions for government and defense sectors through full integration.
Filing Stats: 554 words · 2 min read · ~2 pages · Grade level 10.2 · Accepted 2024-06-06 16:14:31
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-20240606.htm (8-K) — 31KB
- d-wave_aramcoxpressxrlsxfi.htm (EX-99.1) — 10KB
- 0001907982-24-000072.txt ( ) — 207KB
- qbts-20240606.xsd (EX-101.SCH) — 2KB
- qbts-20240606_def.xml (EX-101.DEF) — 15KB
- qbts-20240606_lab.xml (EX-101.LAB) — 27KB
- qbts-20240606_pre.xml (EX-101.PRE) — 16KB
- qbts-20240606_htm.xml (XML) — 4KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On June 6, 2024, D-Wave Quantum Inc. issued a press release announcing that it has extended its agreement with Aramco, a global integrated energy and chemicals company, to manage geophysical optimization problems through quantum technologies. 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 6, 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 6, 2024 D-Wave Quantum Inc. By: /s/ Alan Baratz Name: Alan Baratz Title: President & Chief Executive Officer