Rigetti signs $100M CHIPS Act deal with U.S. Dept of Commerce; issues 7.74M shares

Rigetti Computing, Inc.

Up to $100M from U.S. Dept of Commerce under CHIPS Act; initial $43.9M tranche, then $29.9M and $26.2M upon milestones.
Three R&D projects: miniaturized readout electronics, new cryostat architecture, high-connectivity chip fabrication.
Company to issue 7,739,938 shares at $12.92/share to Department; minority non-controlling stake.
CEO Subodh Kulkarni: funding accelerates roadmap to utility-scale quantum computing.
Agreement runs to earlier of milestone completion or 5th anniversary; subject to compliance and U.S. government IP rights.

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