Rigetti Computing prices 50M shares at $2.00 in registered direct offering

Rigetti Computing (RGTI) has entered into securities purchase agreements with two institutional investors for the purchase and sale of 50,000,000 shares of the Company’s common stock, par value $0.0001 per share, at a purchase price of $2.00 per share, pursuant to a registered direct offering priced at-the-market under Nasdaq rules, resulting in gross proceeds of approximately $100 million, before deducting placement agent commissions and other offering expenses. The closing of the offering is expected to occur on or about November 27, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. With the anticipated net proceeds from this offering and cash on hand, the Company believes it will be adequately funded to continue its current technology development and on-premises quantum computer business strategy without the need to raise additional capital. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.