Filing Overview
D-Wave Quantum Inc. filed a Form 8-K dated February 16, 2023, reporting under Item 7.01 that it issued a press release regarding product and business updates. The filing was signed February 17, 2023, by Alan Baratz, President and Chief Executive Officer.
Business Context and Reporting Period
The filing concerns D-Wave’s quantum computing product and business developments as of February 16, 2023. It is not a periodic financial report and does not present results for a fiscal quarter or year.
Financial Metrics
The filing text does not provide clear values for revenue, net income, cash flow, margins, debt, liquidity, operating expenses, or other financial metrics.
Material Changes and Outlook
The filing states that the company announced several product and business updates in Exhibit 99.1. The text provided does not include the contents of that press release, so specific changes, guidance, management commentary, risks, contingencies, and unusual items cannot be evaluated.
Filing Status and Securities
- The information under Item 7.01 and Exhibit 99.1 was furnished and is not deemed filed for purposes of Section 18 of the Exchange Act.
- The information is not deemed incorporated by reference into the company’s Securities Act or Exchange Act filings.
- D-Wave’s common stock trades on the New York Stock Exchange under QBTS.
- The company’s warrants trade under QBTS.WT; each whole warrant is exercisable for 1.4541326 common shares at an exercise price of $11.50.
- The company identified itself as an emerging growth company.
Investor Verification Items
- Review Exhibit 99.1 for the specific product announcements, business updates, and any forward-looking statements.
- Verify whether the press release contains revenue, bookings, customer, technology-performance, liquidity, or other operating disclosures not reproduced in the filing text.
- Assess any risks, contingencies, or guidance included in the omitted press release and compare them with subsequent periodic filings.
- Confirm the terms and potential dilution associated with the listed warrants.