---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-035267"
form_type: "8-K"
ticker: "QBTS"
cik: "0001907982"
company_name: "D-Wave Quantum Inc."
filed_at: "2023-07-20T23:59:59+00:00"
generated_at: "2026-06-13T05:49:08.713131+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# D-Wave secures waiver and amendment to draw Loan B under Term Loan with PSPIB

## Summary
- PSPIB waived condition requiring board-approved operating budget for 2023-2027; deadline extended to August 31, 2023.
- Director nomination condition from PSPIB now at lender's option upon 5 business days' notice.
- IP registration notification changed from 5 business days to monthly deadline.
- Company drew Loan B; no assurance it can meet conditions to draw Loan C.

## SEC filing metadata
- accession: 0001140361-23-035267
- form_type: 8-K
- ticker: QBTS
- cik: 0001907982
- company_name: D-Wave Quantum Inc.
- filed_at: 2023-07-20T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1907982/000114036123035267/0001140361-23-035267-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1907982/000114036123035267/brhc20056119_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-035267
- JSON: https://secwatch.observer/filing/0001140361-23-035267.json
- Plain text: https://secwatch.observer/filing/0001140361-23-035267.txt

## Key facts
- Material Agreements
  D-Wave Quantum Inc. amended Limited Waiver and Second Amendment to Loan and Security Agreement with PSPIB Unitas Investments II Inc., an affiliate of PSP Investments (effective 2023-07-13).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: PSPIB Unitas Investments II Inc., an affiliate of PSP Investments
  - Effective: 2023-07-13
  source text: On July 13, 2023, D-Wave Quantum Inc. (the "Company") entered into the Limited Waiver and Second Amendment to Loan and Security Agreement (the “Amendment”) with PSPIB Unitas Investments II Inc., an affiliate of PSP Investments, (“PSPIB”) waiving and amending certain conditions to the Loan and Security Agreement dated as of April 13, 2023, by and among the Company and its subsidiaries and PSPIB (as amended pursuant to that certain First Amendment to Loan and Security Agreement dated as of June 16, 2023) (the “Term Loan”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1907982/000114036123035267/0001140361-23-035267-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.