Harris & Harris Group Portfolio Company, D-Wave Systems, Announces the Sale of its First D-Wave 2000Q™ Quantum Computer to ...
January 24 2017 - 11:04AM
Harris & Harris Group, Inc. (NASDAQ:TINY), notes the
announcement by its portfolio company, D-Wave Systems, that it sold
the first D-Wave 2000Q™ quantum computer to Temporal Defense
Systems (“TDS”), a cybersecurity firm. The D-Wave 2000Q™
system, valued at $15 million, will be used with TDS technology to
solve some of the most critical and complex cyber security problems
impacting governments and commercial enterprises. The
agreement also includes upgrades to future D-Wave quantum
processing units (QPUs). This release was issued in
conjunction with the announcement of the general commercial
availability of the D-Wave 2000Q™ quantum computer.
Harris & Harris Group currently owns between
2.5-5 percent of D-Wave Systems on a fully diluted basis.
Harris & Harris Group also reminds interested accredited
investors that there is limited time remaining to purchase a
limited amount of equity interests in H&H Co-Investment
Partners, LLC D-Wave Series J, an investment series created to
invest in future rounds of financing of D-Wave Systems, Inc.
The offering is being facilitated by BANQ®, the online division of
TriPoint Global Equities LLC, a FINRA member and registered
broker-dealer, and will be conducted under Rule 506(c) of
Regulation D promulgated by the SEC under the Securities Act.
All equity interests issued by H&H Co-Investment Partners will
be offered by TriPoint Global Equities.
Accredited investors that are interested in
reviewing the offering materials, including the Confidential
Private Placement Memorandum (PPM) and subscription documents, and
subscribing to the offering can do so on BANQ®’s website at
www.banq.co. The securities offered in the offering have not
been, and will not be, registered under the Securities Act and may
not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements.
The press releases can be viewed at
http://www.dwavesys.com/press-releases/temporal-defense-systems-purchases-first-d-wave-2000q-quantum-computer
and
http://www.dwavesys.com/press-releases/d-wave%C2%A0announces%C2%A0d-wave-2000q-quantum-computer-and-first-system-order.
About Harris & Harris
Group
Harris & Harris Group is a publicly traded
venture capital firm that is also a business development
company. Detailed information about Harris & Harris Group
and its holdings can be found on its website at www.HHVC.com, on
Facebook at www.facebook.com/harrisharrisvc and by following on
Twitter @harrisandharrisgroup.
506(c) Offering LegendInvestors
should consider the investment objectives, risks, and charges and
expenses of H&H Co-Investment Partners, LLC carefully before
investing. The PPM relating to each offering of equity
interests by H&H Co-Investment Partners, LLC will contain this
and other information about H&H Co-Investment Partners, LLC and
should be read carefully before investing. Copies of the PPM
relating to each offering of equity interests by H&H
Co-Investment Partners, LLC may be obtained by accessing BANQ®’s
website at www.banq.co.
Securities of H&H Co-Investment Partners, LLC
are expected to be offered and sold in reliance on the exemption
from registration set forth in Section 506(c) under the Securities
Act of 1933, as amended, or the "Securities Act". In
accordance therewith, you should be aware that (i) the securities
may be sold only to “accredited investors,” which for natural
persons are investors who meet certain minimum annual income or net
worth thresholds; (ii) the securities will only be offered in
reliance on an exemption from the registration requirements of the
Securities Act and will not be required to comply with specific
disclosure requirements that apply to registration under the
Securities Act; (iii) the Securities and Exchange Commission will
not pass upon the merits of or give its approval to the securities,
the terms of the offering, or the accuracy or completeness of any
offering materials; (iv) the securities will be subject to legal
restrictions on transfer and resale and investors should not assume
they will be able to resell their securities; investing in
securities involves risk, and investors should be able to bear the
loss of their investment; and (v) the securities offered will not
be subject to the protections of the Investment Company Act.
Any performance data set forth herein represents
past performance. Past performance does not guarantee future
results. Current performance may be lower or higher than the
performance data presented. H&H Co-Investment Partners, LLC is
not required by law to follow any standard methodology when
calculating and representing performance data, and as a result the
performance of H&H Co-Investment Partners, LLC may not be
directly comparable to the performance of other funds.
This press release is not an offer to sell, or the
solicitation of an offer to purchase, any securities of H&H
Co-Investment Partners, LLC, in any jurisdiction where such offer
or sale would be prohibited.
Forward-Looking StatementsThis
press release may contain statements of a forward-looking nature
relating to future events. These forward-looking statements are
subject to the inherent uncertainties in predicting future results
and conditions. These statements reflect the Company's current
beliefs, and a number of important factors could cause actual
results to differ materially from those expressed in this press
release. Please see the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 2015, as well as subsequent
filings, filed with the Securities and Exchange Commission for a
more detailed discussion of the risks and uncertainties associated
with the Company's business, including, but not limited to, the
risks and uncertainties associated with venture capital investing
and other significant factors that could affect the Company's
actual results. Except as otherwise required by Federal securities
laws, the Company undertakes no obligation to update or revise
these forward-looking statements to reflect new events or
uncertainties. The references and links to the websites
www.HHVC.com, www.banq.co, www.tripointglobalequities.com,
www.dwavesys.com and www.facebook.com have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Harris &
Harris Group is not responsible for the contents of third party
websites.
Press Contact:
Daniel B. Wolfe
Harris & Harris Group, Inc.
212-582-0900
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