D-Wave Announces Redemption of Outstanding Public Warrants
D-Wave Quantum a pioneering force in the field of quantum computing, today announced its intention to redeem all of its outstanding public warrants to purchase shares of the Company’s common stock. The redemption will take place at 5:00 p.m. New York City time on November 19, 2025 (the “Redemption Date”), and will be carried out in accordance with the terms outlined in the Company’s warrant agreement. The redemption price has been set at $0.01 per warrant.
As of October 17, 2025, approximately 5 million public warrants remain outstanding. These warrants give holders the right to purchase common stock in the Company. Warrant holders now have the opportunity to exercise their warrants at any time between the date of this announcement and the Redemption Date. Those who wish to exercise their warrants are encouraged to contact their brokers as soon as possible to ensure proper and timely processing.
After 5:00 p.m. New York City time on November 19, 2025, any warrants that have not been exercised will become void. Holders of such unexercised warrants will forfeit all rights associated with them, apart from receiving the $0.01 redemption payment. No further claims, including rights to purchase common stock, will be honored beyond that time.
If all currently outstanding warrants are exercised prior to the Redemption Date, D-Wave expects to issue approximately 7.2 million shares of common stock. This would result in less than 2.1% dilution for current shareholders. By redeeming the warrants, D-Wave aims to simplify its capital structure and reduce the overhang of derivative securities.
Following the redemption, the Company anticipates that the last day of trading for the public warrants on the New York Stock Exchange (NYSE) will be November 17, 2025. After that date, the warrants will no longer be listed or tradable, and they will cease to have any market value.
The Company has filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission (SEC) that provides additional details on the warrant redemption. This filing includes further information on the redemption process, the terms of the warrants, and instructions for holders who wish to exercise them.
D-Wave has made it clear that it is not making any recommendations to warrant holders regarding whether they should exercise their warrants or not. The Company, its board of directors, and its employees have issued no guidance or opinions on the decision. Holders are therefore encouraged to make informed decisions based on their own financial situations and, if necessary, consult with financial advisors or legal counsel.
For holders who have questions about how to exercise their warrants, the Company advises reaching out directly to their broker or contacting the warrant agent for assistance. The warrant agent, Equiniti Trust Company, LLC, can be reached at the following address: P.O. Box 500, Newark, NJ 07101, Attention: Reorg Department. They are also available by email at ReorgWarrants@equiniti.com.
For more general questions related to the redemption, investors may contact D-Wave’s investor relations team via email at ir@dwavesys.com.
It is important to note that this press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of D-Wave Quantum Inc. It is also not intended to serve as a solicitation in any jurisdiction where such activities would be unlawful. Any offer or sale of securities will be made only through appropriate legal channels and in compliance with the securities laws of relevant jurisdictions.
This redemption marks another milestone in D-Wave’s ongoing efforts to build a more streamlined and transparent financial foundation as it continues to lead in the commercialization of quantum computing technology. As the first company to offer a commercially available quantum computer, D-Wave remains committed to driving innovation in the field and delivering value to both customers and shareholders.
Warrant holders are urged to act promptly in reviewing their options, as the window for action closes at 5:00 p.m. New York City time on November 19, 2025.
