Rigetti Computing, Inc. — Form 8-K Summary
Business context and reporting period
This Form 8-K reports a management transition at Rigetti Computing, Inc., a quantum-computing company headquartered in Berkeley, California. The reported event occurred on November 7, 2022; the filing and related press release were dated November 9, 2022. This is not a periodic financial report and does not present operating results for a reporting period.
Financial and operating metrics
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, guidance, or other financial metrics.
Material changes
- Founder, President, Chief Executive Officer, and director Chad Rigetti notified the company of his intention to resign from all three positions.
- The anticipated effective date of the resignation is December 15, 2022.
- The company was conducting a search for Dr. Rigetti’s successor.
- If no successor is appointed before the effective date, General Counsel and Corporate Secretary Rick Danis is expected to serve as interim President and Chief Executive Officer until a successor is appointed.
Management commentary, risks, and unusual items
Rick Danis has served as Rigetti’s General Counsel and Corporate Secretary since the Business Combination and has more than 25 years of primarily in-house technology-company legal experience. The filing does not state whether Chad Rigetti’s resignation relates to any disagreement with the company, its operations, policies, or practices.
The principal disclosed risk is leadership-transition uncertainty, including the possibility of an interim chief executive and the timing of appointing a permanent successor. The company furnished a November 9, 2022 press release as Exhibit 99.1 under Regulation FD; the exhibit is not deemed filed for liability purposes under Section 18 of the Exchange Act.
Important facts for investors to verify
- Whether Chad Rigetti’s resignation became effective on December 15, 2022 and whether he also ceased serving as a director.
- Whether Rick Danis became interim President and Chief Executive Officer.
- The timing and terms of any permanent CEO appointment.
- Any subsequent disclosures regarding executive compensation, severance, retention arrangements, or changes in strategy.
- Financial condition, liquidity, cash burn, and operating results in the company’s relevant periodic filings, which are not provided in this 8-K.