---
schema_version: "secwatch.filing_event.v1"
accession: "0001907982-24-000052"
form_type: "8-K"
ticker: "QBTS"
cik: "0001907982"
company_name: "D-Wave Quantum Inc."
filed_at: "2024-04-19T23:59:59+00:00"
generated_at: "2026-06-03T16:54:40.547601+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# D-Wave amends term loan to allow $30M equity raise without prepayment; updates CFO and GC comp

## Summary
- Sixth Amendment to Loan & Security Agreement with PSPIB executed April 16, 2024.
- Up to $30M gross proceeds (ELOC or Universal Shelf) between April 16 and Sept 30, 2024 exempt from mandatory prepayment.
- Additional $20M equity proceeds receive exemption from 10% prepayment premium.
- CFO John Markovich base salary increased to $440,000/yr effective Apr 1, 2024; 150k RSU grant.
- GC Diane Nguyen base salary increased to $330,000/yr; awards: 80k RSU refresh, 100k RSU and 100k options promotion.

## SEC filing metadata
- accession: 0001907982-24-000052
- form_type: 8-K
- ticker: QBTS
- cik: 0001907982
- company_name: D-Wave Quantum Inc.
- filed_at: 2024-04-19T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1907982/000190798224000052/0001907982-24-000052-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1907982/000190798224000052/qbts-20240416.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001907982-24-000052
- JSON: https://secwatch.observer/filing/0001907982-24-000052.json
- Plain text: https://secwatch.observer/filing/0001907982-24-000052.txt

## Key facts
- Material Agreements
  D-Wave Quantum Inc. entered into Sixth Amendment to Loan and Security Agreement with PSPIB Unitas Investments II Inc. valued at Additional $30 million prepayment exemption plus $20 million prepayment premium exemption (effective 2024-04-16).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: PSPIB Unitas Investments II Inc.
  - Value: Additional $30 million prepayment exemption plus $20 million prepayment premium exemption
  - Effective: 2024-04-16
  source text: On April 16, 2024, D-Wave Quantum Inc. (the “Company”) entered into the Sixth 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/1907982/000190798224000052/0001907982-24-000052-index.htm

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