Rigetti Computing Raises $12.8 Million in Recent Share Sale
Rigetti Computing (RGTI) has successfully raised $12.8 million in net proceeds through the sale of over 10 million shares to B. Riley Principal Capital II LLC.
Rigetti Computing Raises $12.8 Million
Rigetti Computing, Inc. has successfully raised $12.8 million in net proceeds through the sale of over 10 million shares to B. Riley Principal Capital II LLC.
The recent transaction concludes their agreement, with Rigetti fully utilizing the allowance to sell up to $75 million or around 23.6 million shares, marking the end of available shares for sale under this particular arrangement.
This strategic financial move was executed using exemptions from standard registration requirements, offering a boost to the company’s capital amid the dynamic financial landscape of the tech industry.
Utilizing Exemptions for Financial Boost
Rigetti Computing leveraged a deal set from August 2022 to raise $12.8 million in net proceeds through the sale of over 10 million shares to B. Riley Principal Capital II LLC.
By fully utilizing the allowance to sell up to $75 million or around 23.6 million shares, the company has concluded this particular agreement, exhausting the available shares for sale.
The strategic financial move was executed through exemptions from standard registration requirements, highlighting Rigetti's ability to adapt in the dynamic financial landscape of the tech industry.
Boosting Capital in the Tech Industry
Rigetti Computing's successful share sale has provided a significant boost to the company's capital.
With $12.8 million in net proceeds, Rigetti has capitalized on the opportunity to strengthen its financial position.
This strategic move comes at a time when the tech industry is experiencing rapid changes and fluctuations in the financial landscape.
