Company had hoped deal would grant access to $300m trust account, but shareholders cleared it out
Quantum computing pioneer D-Wave Systems has completed its planned merger with DPCM Capital, taking the company public on the New York Stock Exchange.with DPCM Capital, a SPAC or special purpose acquisition company, earlier this year in a deal that would make it a publicly quoted business. It was claimed at the time that the agreement would value the company at $1.2 billion.
The move was welcomed by Alan Baratz, CEO of the newly merged entity, who said the business combination would position the company to accelerate its growth strategy, using capital raised through the merger along with its newly gained access to the public money markets.
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