PSP and BDC backed D-Wave trades below US $10

CPE News Brief (8.9.2022) – D-Wave Quantum, Inc. (NYSE: QBTS), the Delaware domiciled resulting issuer from the amalgamation of DPCM Capital (a SPAC) and D-Wave Systems Inc., finished its first day trading following the completion of the combination at US $10 per share on August 8, 2022. The stock reached as high of US $13.12 during the day.

D-Wave stock traded at US $8:60 at 10:01 EDT August 9, 2022 and traded as low of US $7.80.

Prior to the closing of the combination, DPCM stockholders holding 29,097,787 shares of Class A Common Stock, representing 77.56% of 37.5 million outstanding shares, exercised their rights to redeem their shares at the IPO price of US $10.

D-Wave principal shareholders include Public Sector Pension Investment Board (PSP Investments) (60,113,047 shares, including shares acquired from PIPE financing), BDC Capital Inc. (9,541,390 shares), Goldman Sachs & Co. LLC (8,028,439 shares, including shares acquired from PIPE financing).

photo credit: Google Finance