Supernova Partners Acquisition II shareholders voted in favor of merging with Rigetti Holdings. Rigetti is engaged in hybrid quantum-classical computing.
The SPAC in a news release said 95% of voted shares were in support of the deal.
With the redemption deadline expired, Supernova said it will have approximately $114 million in its trust account prior to closing the business combination. The SPAC had announced last week before the vote that it expected to seal the deal with more than enough cash to satisfy minimum requirements.
Rigetti is expected to receive gross proceeds of $261.75 million from the transaction, which includes a $147.51 million PIPE.
While the SPAC did not disclose actual redemption numbers in a subsequent 8-K filing, Supernova II raised $250 million in a March 2021 IPO. With $114 million and change remaining in trust, share redemptions would therefore amount to about 64%.
The deal is expected to close tomorrow, when newly named Rigetti Computing’s stock and warrants will begin trading on the Nasdaq under ticker symbols RGTI and RGTIW. Read more.
