Rigetti Will Receive an Additional $45 Million Investment as Part of Its SPAC Deal

The investment comes in the form of a PIPE (Private Investment, Public Entity) commitment where the investors will purchase equity in the proposed business combination between Rigetti and Supernova Partners Acquistion Company II in exchange for stock. It is almost the same as the $103 million PIPE investment that was announced at the time the SPAC (Special Purpose Acquisition Company) deal was announced except that the price of these new shares will be at $10.25 each instead of $10.00 previously. The commitment was made by from Lansdowne Partners (UK) LLP and from an existing PIPE investor. When this investment is funds from the previous SPAC and the $345 million in Supernova cash held in trust, Rigetti will have approximately $440 million in cash after transaction costs after the merger is finalized to use for accelerating product development and expanding operations. You can view the news release provided by Supernova Partners Acquisition Company II here.

December 27, 2021