<ul><li> Canadian quantum computing company D-Wave has completed its previously announced special-purpose acquisition company (SPAC) deal and will start trading its common shares and warrants on the New York Stock Exchange (NYSE) under the ticker symbols “QBTS” and “QBTS WS” respectively, effective from August 08, 2022. The combined entity will be called D-Wave Quantum Inc.</ul>

<ul><li> The proceeds from the transaction will be utilized for the development and delivery of the company’s quantum technologies, including its annealers and gate-based quantum computers, and expanding its geographical presence across the globe. The company released the first prototype of its 500-qubit Advantage2 quantum annealing computer in June 2022.</ul>

<ul><li> Analyst QuickTake: D-Wave becomes the third pure-play quantum computing company to go public via a SPAC deal within the last year, after IonQ in October 2021 which raised more than USD 650 million, and Rigetti Computing in March 2022 which raised USD 340 million. With the number of public companies in the quantum industry gradually rising, more quantum startups can be expected to join the club in the near future including Quantinuum (Honeywell-Cambridge Quantum Computing merger) which hinted at plans to go public by the end of 2022.</ul>