Supernova Partners II (SNII) Shareholders Approve Rigetti Deal
by Marlena Haddad on 2022-02-28 at 4:57pm

Supernova Partners Acquisition Company II (NYSE:SNII) announced this afternoon that its shareholders have voted to approve its combination with quantum computing firm Rigetti Holdings.

The announcement comes as no surprise as the SPAC disclosed on Friday morning that it expected to gain approval of the combination with sufficient cash to close the deal on March 2.

Supernova II passed its redemption deadline last Thursday, February 24, and now expects to deliver $114.24 million from its trust.  Rigetti will receive gross proceeds of $261.75 million from the deal, including a $147.5 million PIPE, which is more than enough to satisfy the transaction’s $165 million minimum cash condition. This amounts to about 67% of shares redeemed, making it the third lowest redemption rate among the SPACs that have held votes so far in 2022.

Upon closing, the combined company will change its name to Rigetti Computing, Inc. and its common stock and public warrants will begin trading on The Nasdaq Capital Market under the ticker symbols “RGTI” and “RGTIW,” respectively, starting Wednesday, March 2.

The parties initially announced their $1.15 billion combination on October 6. Berkeley, California-based Rigetti Computing has developed scalable quantum computing chips and is working to deploy its machines in collaboration with several government and research institutions.


ADVISORS

  • Deutsche Bank Securities Inc. is serving as exclusive financial advisor to Rigetti.
  • Cooley LLP is serving as legal counsel to Rigetti.
  • Morgan Stanley & Co. LLC is serving as exclusive financial advisor to Supernova II.
  • Latham & Watkins LLP is serving as legal counsel to Supernova II.
  • Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. served as placement agents to Supernova II for the PIPE financing.
  • Sidley Austin LLP served as counsel to the placement agents.
Supernova Partners II (SNII) Shareholders Approve Rigetti Deal
Recent Posts
by Kristi Marvin on 2025-07-15 at 6:06am

Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SPEGU”, Tuesday, July 15, 2025. The new SPAC plans to search within the technology sector, with a focus on semiconductors and systems solutions. Silver Pegasus Acquisition Corp.’s management...

by Nicholas Alan Clayton on 2025-07-14 at 12:51pm

Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...

by Nicholas Alan Clayton on 2025-07-14 at 11:13am

Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...

by Kristi Marvin on 2025-07-14 at 9:19am

This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...

by Nicholas Alan Clayton on 2025-07-14 at 8:30am

At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved