Rigetti Computing Terminates Material Definitive Agreement
Ticker: RGTIW · Form: 8-K · Filed: Dec 9, 2024 · CIK: 1838359
| Field | Detail |
|---|---|
| Company | Rigetti Computing, Inc. (RGTIW) |
| Form Type | 8-K |
| Filed Date | Dec 9, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $11.50, $10.5 m, $9.5 million, $0.9 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: agreement-termination, material-event
TL;DR
Rigetti Computing just terminated a big deal. What was it?
AI Summary
Rigetti Computing, Inc. announced on December 9, 2024, the termination of a material definitive agreement. The company, incorporated in Delaware, is headquartered at 775 Heinz Avenue, Berkeley, California.
Why It Matters
The termination of a material definitive agreement can significantly impact a company's operations, financial standing, and future strategic direction.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement often signals potential business disruptions or changes in strategic partnerships, which can introduce uncertainty.
Key Players & Entities
- Rigetti Computing, Inc. (company) — Registrant
- December 9, 2024 (date) — Date of earliest event reported
- 775 Heinz Avenue, Berkeley, California (location) — Principal executive offices
- Delaware (location) — State of incorporation
FAQ
What specific material definitive agreement was terminated by Rigetti Computing?
The filing states that a material definitive agreement was terminated, but does not specify which agreement it was.
When did the termination of the material definitive agreement become effective?
The filing indicates that December 9, 2024, is the date of the earliest event reported, implying the termination occurred on or around this date.
What are the potential consequences of this termination for Rigetti Computing?
The filing does not detail the specific consequences, but the termination of a material definitive agreement typically has financial and operational implications.
Is there any information in the filing about the other party to the terminated agreement?
No, the filing does not disclose the identity of the other party involved in the terminated material definitive agreement.
Does this termination relate to any specific business segment or product of Rigetti Computing?
The filing does not provide details on whether the terminated agreement pertains to a specific business segment or product.
Filing Stats: 573 words · 2 min read · ~2 pages · Grade level 12.3 · Accepted 2024-12-09 16:51:55
Key Financial Figures
- $0.0001 — ge on which registered Common Stock, $0.0001 par value per share RGTI The Nasdaq
- $11.50 — of Common Stock at an exercise price of $11.50 per share RGTIW The Nasdaq Capital M
- $10.5 m — cash on hand, a total of approximately $10.5 million, including the approximately $9.5
- $9.5 million — .5 million, including the approximately $9.5 million outstanding loan balance under the Loan
- $0.9 million — d end of term payments of approximately $0.9 million and a prepayment fee of approximately $
- $75,900 — n and a prepayment fee of approximately $75,900, which satisfied all of the Company's i
Filing Documents
- tm2430535d1_8k.htm (8-K) — 28KB
- 0001104659-24-126796.txt ( ) — 239KB
- rgti-20241209.xsd (EX-101.SCH) — 3KB
- rgti-20241209_def.xml (EX-101.DEF) — 26KB
- rgti-20241209_lab.xml (EX-101.LAB) — 36KB
- rgti-20241209_pre.xml (EX-101.PRE) — 25KB
- tm2430535d1_8k_htm.xml (XML) — 5KB
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. On December 9, 2024, Rigetti Computing, Inc. (the "Company") paid in full and terminated the Loan and Security Agreement, dated as of March 10, 2021 and as amended and restated on June 21, 2024 (the "Loan Agreement"), by and among Rigetti & Co., LLC (as successor-in-interest to Rigetti & Co., Inc., a Delaware corporation), a Delaware limited liability company, Rigetti Intermediate LLC, a Delaware limited liability company, and the Company as the borrowers (collectively, the "Borrowers"), and Trinity Capital Inc., a Maryland corporation (the "Lender"), effective immediately. The Company pre-paid in full, using cash on hand, a total of approximately $10.5 million, including the approximately $9.5 million outstanding loan balance under the Loan Agreement, plus accrued but unpaid interest, fees and end of term payments of approximately $0.9 million and a prepayment fee of approximately $75,900, which satisfied all of the Company's indebtedness thereunder. Upon consummation of the payoff, the obligations of the Company under the Loan Agreement (other than those obligations of the Borrowers, including indemnification obligations, that by their express terms survived the full payment of any loans or the Borrowers' satisfaction of all obligations under the Loan Agreement) were deemed satisfied.
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: December 9, 2024 RIGETTI COMPUTING, INC. By: /s/ Jeffrey Bertelsen Jeffrey Bertelsen Chief Financial Officer