---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-047817"
form_type: "8-K"
ticker: "QBTS"
cik: "0001907982"
company_name: "D-Wave Quantum Inc."
filed_at: "2023-10-11T23:59:59+00:00"
generated_at: "2026-06-10T01:49:59.468098+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# D-Wave Quantum amends term loan with PSPIB; extends budget deadline and ELOC prepayment holiday to Dec 31, 2023

## Summary
- Fourth Amendment to Loan and Security Agreement with PSPIB dated Oct 6, 2023.
- Deadline for board-approved 2023-2027 budget extended to December 31, 2023.
- Prepayment holiday for ELOC proceeds up to $50M extended to December 31, 2023.
- Permitted capex indebtedness increased to $3.8M; insurance premium financing up to $1.8M.
- Other amendments: investment policy, deposit account control agreement due Oct 31, 2023.

## SEC filing metadata
- accession: 0001140361-23-047817
- form_type: 8-K
- ticker: QBTS
- cik: 0001907982
- company_name: D-Wave Quantum Inc.
- filed_at: 2023-10-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1907982/000114036123047817/0001140361-23-047817-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1907982/000114036123047817/ef20012292_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-047817
- JSON: https://secwatch.observer/filing/0001140361-23-047817.json
- Plain text: https://secwatch.observer/filing/0001140361-23-047817.txt

## Key facts
- Material Agreements
  D-Wave Quantum Inc. amended Fourth Amendment to Loan and Security Agreement with PSPIB Unitas Investments II Inc. (effective 2023-10-06).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: PSPIB Unitas Investments II Inc.
  - Effective: 2023-10-06
  source text: On October 6, 2023, D-Wave Quantum Inc. (the “Company”) entered into the Fourth Amendment to Loan and Security Agreement (the “Amendment”) with PSPIB Unitas Investments II Inc. (“PSPIB”) amending certain provisions to the Loan and Security Agreement dated as of April 13, 2023, by and among the Company and its subsidiaries and PSPIB, as amended (the “Term Loan”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1907982/000114036123047817/0001140361-23-047817-index.htm

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