D-Wave Quantum Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by D-Wave Quantum Inc. on November 13, 2025. The filing addresses Item 8.01 (Other Events) regarding the redemption of the Company's outstanding public warrants.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, or liquidity metrics. The only financial data provided relates to the warrant redemption terms:
- Redemption Price: $0.01 per Warrant.
- Warrant Exercise Price: $11.50 per Warrant.
- Shares per Warrant: 1.4541326 shares of Common Stock.
- Redemption Trigger: The last sales price of Common Stock was at least $18.00 per share on each of twenty trading days within a thirty-day trading period.
Material Changes
The Company announced the redemption of all outstanding public warrants (trading symbol QBTS.WT) at $0.01 per warrant. This action is effective as of the Redemption Date, November 19, 2025, at 5:00 p.m. New York City Time. Warrants not exercised by this deadline will become void.
Outlook, Risks, and Management Commentary
Management notes that November 17, 2025, is expected to be the last trading day for the Warrants on the New York Stock Exchange. Holders may exercise their warrants until the Redemption Date by contacting their broker. The filing explicitly states that the report does not constitute an offer to sell or a solicitation of an offer to buy any securities.
Investor Verification Checklist
- Verify the current market price of D-Wave Quantum Inc. Common Stock (QBTS) to confirm it remains above the $18.00 redemption trigger threshold.
- Confirm the deadline for warrant exercise is November 19, 2025, at 5:00 p.m. New York City Time.
- Check if the Warrants (QBTS.WT) are still trading on the NYSE, as trading is expected to cease on November 17, 2025.
- Review the calculation of shares receivable upon exercise, noting that fractional shares are rounded down to the nearest whole number.