Rigetti Computing, Inc. Form 8-K Summary
Business Context and Reporting Period
This Form 8-K reports a Nasdaq listing compliance matter. The relevant event occurred on July 12, 2023; the filing was signed July 13, 2023. No quarterly or annual financial results are included.
Key Financial Metrics and Liquidity
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other financial metrics.
Material Change Versus Prior Period
Rigetti previously received a Nasdaq notice dated January 25, 2023 stating that its common stock failed to meet Nasdaq Listing Rule 5550(a)(2), which requires a minimum closing bid price of $1.00 per share. The company had until July 24, 2023 to regain compliance.
Nasdaq notified Rigetti on July 12, 2023 that its closing bid price was at least $1.00 per share from June 27 through July 11, 2023. The company therefore regained compliance, and the matter was closed.
Guidance, Outlook, Risks, and Unusual Items
No financial guidance or operating outlook was provided. The principal disclosed risk was the potential loss of Nasdaq compliance if the minimum bid-price requirement was not met; that matter was resolved as of the filing.
Important Facts to Verify
- Confirm that Nasdaq’s compliance determination remains effective and that no subsequent listing notices were issued.
- Monitor the common stock price because future failure to maintain the minimum bid price could result in another compliance issue.
- Review subsequent filings for financial performance, liquidity, capital needs, and other operating risks, which are not addressed in this 8-K.
- The company’s common stock trades under RGTI and its warrants under RGTIW on the Nasdaq Capital Market.