According to the news of the Titanium Media App on February 9, quantum computing company D-Wave announced that it will be listed through a merger with SPAC company DPCM Capital (NYSE: XPOA), which will value the combined company at about $1.2 billion, and the transaction is expected to be completed in the second quarter, after the completion of the transaction, the merged company will be called D-Wave Quantum Inc and traded on the New York Stock Exchange, code-named "QBTS".
The combined company will receive $300 million in funding from DPCM's trust account, as well as $40 million in PIPE financing. Investors in PIPE financing include PSP Investments, Manager of The Canadian Public Sector Pension Scheme, NEC Corp, Goldman Sachs and others.
Founded in 1999, D-Wave provides real-time, full-stack quantum systems that power hardware engineering, post-processing software, and chip manufacturing. They have applications in areas such as logistics, artificial intelligence, financial modeling, and cybersecurity.
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