Supernova Partners Acquisition II announced today that it intends to withdraw its listing from the New York Stock Exchange and list on the Nasdaq if shareholderrs approved its proposed merger with Rigetti, a quantum computing company.
The SPAC said it expects the deal to close by March 2, pending a shareholder vote.
Rigetti stock and warrants would then trade under the symbols RGTI and RGTIW. Supernova’s Class A ordinary shares and warrants will continue to trade on the NYSE until the transfer to Nasdaq is complete.
Listing on the Nasdaq enables the post-combination company to be listed alongside other technology companies, the SPAC said.
As announced in October, terms call for Rigetti to receive approximately $458 million in gross cash proceeds consisting of a fully committed PIPE in excess of $100 million, direct investment, and $345 million of cash held in the Supernova II trust, assuming no redemptions. Read more.
