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Quantum computing company D-Wave to go public via $1.6 billion SPAC deal

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Quantum computing firm D-Wave Systems Inc said on Tuesday it had agreed to go public by merging with blank-check company DPCM Capital in a deal that values the combined company at nearly $1.6 billion.Vancouver-based D-Wave is pushing ahead with the deal even as other companies that recently took a similar

Quantum computing firm D-Wave Systems Inc said on Tuesday it had agreed to go public by merging with blank-check company DPCM Capital in a deal that values the combined company at nearly $1.6 billion.

D-Wave said it expects to raise up to $340 million in gross proceeds from the deal, including a $40 million private placement in public equity from PSP Investments, Goldman Sachs Asset Management, NEC Corporation, Yorkville Advisors and Aegis Group Partners. Auto major Volkswagen AG, software firm Accenture and defense systems maker Lockheed Martin are among D-Wave's blue-chip customers.

 

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