A special purpose acquisition company called Supernova Partners Acquisition Company II, Ltd. best known to be as “Supernova”, has announced its merger with Rigetti Holdings, Inc. (“Rigetti”), a pioneer in hybrid quantum-classical computing established back in 2017, the closing of business provided that all requirements are met, is expected to raise total gross proceeds of at least $261.75 million.
Since 2017, Rigetti has been running quantum computers in the cloud, and its Rigetti Quantum Cloud Services platform serves all over the world through global enterprises, government, and research clients. The net proceeds from the merger will accelerate the company’s development on their generations of quantum processors, expand its operations, and for other company objectives. This will give a higher boost to the company’s current objectives in developing high-performance practical quantum computing. The company’s patented ultra-low latency integration with public and private clouds.
After the merge is successful, Supernova‘s name will be changed to “Rigetti Computing, Inc.”. Rigetti Computing Inc.’s shares are expected to trade on the Nasdaq Capital Market under the ticker symbol “RGTI.”
Read more about the news here.
