Rigetti delays Q3 2022 results, restates Q1/Q2 financials, CEO resigns

Rigetti Computing, Inc.

Files Form 12b-25 to delay Q3 2022 10-Q; restates Q1 and Q2 2022 financials due to earn-out liability valuation error.
Estimates ~$1.6M in additional operating expenses for unpaid electric utility fees at Berkeley location since 2019.
Founder and CEO Chad Rigetti resigns effective Dec. 15, 2022; Rick Danis (General Counsel) appointed Interim CEO.
Partnerships with Bluefors, Nvidia, and Keysight; 84-qubit Ankaa system planned for early 2023.

item 2.02 item 5.02 item 5.03 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Chad Rigetti

Founder, President and Chief Executive Officer

RGTI · Rigetti Computing, Inc.

Effective: 2022-12-15
Filed: November 14, 2022, 6:59 PM ET

On November 12, 2022, the board of directors of the Company accepted the previously announced resignation of Dr. Chad Rigetti, the Company’s Founder, President and Chief Executive Officer, from all positions he holds with the Company.

Appointed (interim)

Rick Danis

Interim President and Chief Executive Officer

RGTI · Rigetti Computing, Inc.

Effective: 2022-11-12
Filed: November 14, 2022, 6:59 PM ET

On November 12, 2022, the Company’s board of directors appointed Rick Danis, the Company’s General Counsel and Corporate Secretary, to serve as Interim President and Chief Executive Officer of the Company effective as of such date until a successor to Dr. Rigetti has been appointed.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Rigetti Computing, Inc. reported financial results for the three and nine-month periods ended September 30, 2022.

Period: the three and nine-month periods ended September 30, 2022
Result: reported results

Exact text from the filing

On November 14, 2022, Rigetti Computing, Inc. (“the Company”) issued a press release announcing business and management updates as well as updates regarding the delayed timing of the Company’s financial results for the three and nine-month periods ended September 30, 2022 and matters related thereto.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Chad Rigetti resigned as Founder, President and Chief Executive Officer at Rigetti Computing, Inc..

Action: resigned
Role: Founder, President and Chief Executive Officer

Exact text from the filing

On November 12, 2022, the board of directors of the Company accepted the previously announced resignation of Dr. Chad Rigetti, the Company’s Founder, President and Chief Executive Officer, from all positions he holds with the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Rick Danis was appointed as Interim President and Chief Executive Officer at Rigetti Computing, Inc..

Action: appointed
Role: Interim President and Chief Executive Officer

Exact text from the filing

On November 12, 2022, the Company’s board of directors appointed Rick Danis, the Company’s General Counsel and Corporate Secretary, to serve as Interim President and Chief Executive Officer of the Company effective as of such date until a successor to Dr. Rigetti has been appointed.

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Rigetti Computing, Inc.: Amended and restated bylaws to enhance procedural mechanics and disclosure requirements for stockholder nominations and proposals (effective 2022-11-08).

Change: bylaw amendment
Effective: 2022-11-08

Exact text from the filing

On November 8, 2022, the Board approved and adopted the Amended and Restated Bylaws of the Company (the “Bylaws”), effective immediately.

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

Rigetti Computing, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-284708

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