D-Wave Regains Compliance with NYSE Continued Listing Standards
March 04 2024 - 7:00AM
Business Wire
D-Wave Quantum Inc. (NYSE: QBTS) (“D-Wave”), a leader in
commercial quantum computing systems, software, and services, today
announced it has regained compliance with the New York Stock
Exchange (“NYSE”) continued listing standard for minimum share
price under Section 802.01C of the NYSE Listed Company Manual.
On March 1, 2024, the NYSE provided D-Wave with a notification
letter of recompliance based on a calculation of the Company’s
average closing share price for the 30 trading days ended February
29, 2024, which reflected an average closing share price above the
NYSE’s $1.00 minimum requirement.
D-Wave will continue to be traded on the NYSE, subject to its
continued compliance with all applicable listing standards.
About D-Wave Quantum Inc.
D-Wave is a leader in the development and delivery of quantum
computing systems, software, and services, and is the world’s first
commercial supplier of quantum computers—and the only company
building both annealing quantum computers and gate-model quantum
computers. Our mission is to unlock the power of quantum computing
today to benefit business and society. We do this by delivering
customer value with practical quantum applications for problems as
diverse as logistics, artificial intelligence, materials sciences,
drug discovery, scheduling, cybersecurity, fault detection, and
financial modelling. D-Wave’s technology has been used by some of
the world’s most advanced organizations including Mastercard,
Deloitte, Davidson Technologies, ArcelorMittal, Siemens
Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd.,
DENSO, Lockheed Martin, Forschungszentrum Jülich, University of
Southern California, and Los Alamos National Laboratory.
Forward-Looking Statements
Certain statements in this press release are forward-looking, as
defined in the Private Securities Litigation Reform Act of 1995.
These statements involve risks, uncertainties, and other factors
that may cause actual results to differ materially from the
information expressed or implied by these forward-looking
statements and may not be indicative of future results.
Forward-looking statements in this press release include, but are
not limited to, statements regarding D-Wave’s continued listing on
the NYSE and its continued compliance with all applicable NYSE
listing standards. These forward-looking statements are subject to
a number of risks and uncertainties, including, among others,
various factors beyond management’s control, including general
economic conditions and other risks; our ability to expand our
customer base and the customer adoption of our solutions; risks
within D-Wave’s industry, including anticipated trends, growth
rates, and challenges for companies engaged in the business of
quantum computing and the markets in which they operate; the
outcome of any legal proceedings that may be instituted against us;
risks related to the performance of our business and the timing of
expected business or financial milestones; unanticipated
technological or project development challenges, including with
respect to the cost and/or timing thereof; the performance of our
products; the effects of competition on our business; the risk that
we will need to raise additional capital to execute our business
plan, which may not be available on acceptable terms or at all; the
risk that we may never achieve or sustain profitability; the risk
that we are unable to secure or protect our intellectual property;
volatility in the price of our securities; the risk that our
securities will not maintain the listing on the NYSE; the risk that
our restatement of certain previously issued audited and unaudited
financial statements or material weaknesses in internal controls
could negatively affect investor confidence and raise reputational
issues; and the numerous other factors set forth in D-Wave’s Annual
Report on Form 10-K for its fiscal year ended December 31, 2022 and
other filings with the Securities and Exchange Commission. Undue
reliance should not be placed on the forward-looking statements in
this press release in making an investment decision, which are
based on information available to us on the date hereof. We
undertake no duty to update this information unless required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240304923348/en/
Investor Contact: Kevin Hunt ir@dwavesys.com
Media Contact: Alex Daigle media@dwavesys.com
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