Financing ·
Rigetti Computing’s subsidiary entered into a definitive Other Transaction Agreement with the U.S. Department of…
RGTIRigetti Computing, Inc.
Rigetti Computing’s subsidiary entered into a definitive Other Transaction Agreement with the U.S. Department of Commerce to receive up to $100 million in funding under the CHIPS Act for superconducting quantum computing research and development. The award is disbursed in tranches: an initial $43.9 million upon execution, followed by $29.9 million and $26.2 million contingent on achieving specific technical milestones regarding readout electronics, cryogenic capacity, and chip fabrication. As consideration for the funding, Rigetti issued 7,739,938 shares of common stock to the Department at an implied price of $12.92 per share on September 8, 2026. The agreement imposes strict compliance, security, and intellectual property obligations, with provisions allowing the government to recover funds for material non-compliance or terminate the deal. Rigetti Computing operates in the quantum computing industry, designing and manufacturing superconducting quantum processors and systems.