D-Wave Regains Compliance with NYSE Trading Share Price Listing Rule
July 05 2023 - 8:00AM
Business Wire
D-Wave Quantum Inc. (NYSE: QBTS), a leader in commercial quantum
computing systems, software and services, today announced it has
regained compliance with the New York Stock Exchange (NYSE),
meeting its continued listing standard for minimum share price.
On July 3, 2023, the NYSE provided D-Wave with a notification
letter of recompliance based on (1) the Company’s share price being
at least $1.00 on June 30, 2023, and (2) a calculation of the
Company’s average closing price for the 30 trading days ended June
30, 2023, which reflected an average closing 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 modeling. D-Wave’s technology is being used by some of
the world’s most advanced organizations, including Volkswagen,
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 This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, which statements are
based on beliefs and assumptions and on information currently
available. In some cases, you can identify forward-looking
statements by the following words: “may,” “will,” “could,” “would,”
“should,” “expect,” “intend,” “plan,” “anticipate,” “believe,”
“estimate,” “predict,” “project,” “potential,” “continue,”
“ongoing,” or the negative of these terms or other comparable
terminology, although not all forward-looking statements contain
these words. These statements involve risks, uncertainties, and
other factors that may cause actual results, levels of activity,
performance, or achievements to be materially different from the
information expressed or implied by these forward-looking
statements. We caution you that these statements are based on a
combination of facts and factors currently known by us and our
projections of the future, which are subject to a number of risks.
Forward-looking statements in this press release include, but are
not limited to, statements regarding D-Wave’s continued compliance
will all applicable NYSE listing standards. We cannot assure you
that the forward-looking statements in this press release will
prove to be accurate. 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, and the
uncertainties and factors set forth in the sections entitled “Risk
Factors” and “Cautionary Note Regarding Forward-Looking Statements”
in D-Wave’s Annual Report on Form 10-K for its fiscal year ended
December 31, 2022, as well as factors associated with companies,
such as D-Wave, that are engaged in the business of quantum
computing, including anticipated trends, growth rates, and
challenges in those businesses and in 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 the 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; and the risk that our securities will not
maintain the listing on the NYSE. Furthermore, if the
forward-looking statements contained in this press release prove to
be inaccurate, the inaccuracy may be material. In addition, you are
cautioned that past performance may not be indicative of future
results. In light of the significant uncertainties in these
forward-looking statements, you should not place undue reliance on
these statements in making an investment decision or regard these
statements as a representation or warranty by any person we will
achieve our objectives and plans in any specified time frame, or at
all. The forward-looking statements in this press release represent
our views as of the date of this press release. We anticipate that
subsequent events and developments will cause our views to change.
However, while we may elect to update these forward-looking
statements at some point in the future, we have no current
intention of doing so except to the extent required by applicable
law. You should, therefore, not rely on these forward-looking
statements as representing our views as of any date subsequent to
the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230705223281/en/
Investor: Kevin Hunt ir@dwavesys.com
Media: Amy McDowell media@dwavesys.com
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