DPCM Capital (NYSE: XPOA) and D-Wave Systems Inc., a leader in quantum computing systems, software and services, have announced an innovative bonus pool structure for DPCM Capital stockholders in advance of the redemption deadline of 5:00 p.m. EDT on July 29, 2022. According to the update, the proposed business combination between D-Wave and DPCM Capital includes a unique structure in order to incentivize ongoing retention and long-term investment. A bonus pool of up to five million shares of the common stock of D-Wave Quantum Inc., the newly formed company that will be the parent company of D-Wave and DPCM Capital, will be allocated to non-redeeming public stockholders of DPCM Capital on a pro rata basis, effectively reducing their cost basis per share by as much as 31%. A similar bonus pool of up to 1.8 million shares has been established for Private Investment in Public Equity (“PIPE”) investors to ensure the same effective cost basis.
“We are living in an unprecedented time and facing an unpredictable market. Because of this volatility, and because of our heritage of complex problem solving (we commercialized the first quantum computer when no one thought it was possible), we thought we’d take a slightly different and more direct approach,” said D-Wave CEO Alan Baratz. “This bonus pool enables D-Wave to provide DPCM Capital’s stockholders with an innovative economic incentive that is designed to minimize redemptions and further facilitate long-term value creation.”
To view the full press release, visit https://ibn.fm/hCS3M
About DPCM Capital Inc.
DPCM Capital, a special purpose acquisition company, on February 9, 2022, announced its entry into a definitive transaction agreement with D-Wave Systems Inc., a company with approximately 20 years of experience in pioneering superconducting annealing quantum computers. Upon closing of the transaction, shares of D-Wave Quantum Inc., which will be the newly formed parent company of D-Wave Systems and DPCM Capital, are expected to trade on the NYSE under ticker symbol QBTS. Subject to the satisfaction of customary closing conditions, the transaction is expected to enhance D-Wave’s leadership in commercial quantum computing and accelerate quantum use cases into significant customer segments.
NOTE TO INVESTORS: The latest news and updates relating to XPOA are available in the company’s newsroom at https://ibn.fm/XPOA
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