D-Wave Quantum Inc. (QBTS): Nasdaq/NYSE listing notice — D-Wave Quantum receives NYSE non-compliance notice for stock price below $1.00; cancels 2022 executive bonuses

D-Wave Quantum Inc.

NYSE notified D-Wave on Oct 20, 2023 that average closing price of common stock was below $1.00 over 30 consecutive trading days.
Company has six-month cure period; may consider reverse stock split subject to shareholder approval.
Board cancelled 2022 annual cash incentive bonuses for all eligible employees including named executive officers.
Stock continues to trade on NYSE during cure period, subject to other listing standards.

item 3.01 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.98

D-Wave Quantum Inc. received a nyse noncompliance notice notice regarding minimum bid price (rules 802.01C).

Exchange: nyse
Notice: noncompliance notice
Deficiency: minimum bid price
Rules: 802.01C

Exact text from the filing

October 20, 2023 , D-Wave Quantum Inc. (the “Company,” “we,” “us” or “our”) was notified by the New York Stock Exchange (the “NYSE”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company’s common stock was less than $1.00 over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the Company’s common stock from the NYSE. On October 24, 2023 , the Company notified the NYSE that it intends to cure the stock price deficiency and to return to compliance with the NYSE continued li

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D-Wave Quantum Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-049337

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