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DPCM Capital and D-Wave Announce Completion of Business Integration

BURNABY, British Columbia and Palo Alto, Calif., August 8, 2022 — DPCM Capital, Inc., a publicly traded special purpose acquisition company, announced that D-Wave Systems Inc. (“D-Wave”) will A leader in computing systems, software and services, it is the only provider to build both annealing and gate model quantum computers.

Parent company D-Wave Quantum Inc. begins trading under ticker symbol ‘QBTS’

Pursuant to the business combination, D-Wave Quantum Inc. will become the parent company of DPCM Capital and D-Wave, and shares of its common stock and warrants are expected to begin trading on the New York Stock Exchange on Monday, August 8, 2022. They trade under the ticker symbols “QBTS” and “QBTS WS” respectively. DPCM Capital common stock, units and warrants have been delisted from the NYSE.

On Monday, August 8, 2022, at 9:30 a.m. ET, the company’s management team will announce the launch of D-Wave Quantum to mark the listing of D-Wave Quantum and celebrate the arrival of commercial quantum computing on the public market. I rang the NYSE opening bell.

D-Wave Quantum CEO Alan Baratz said: “Today marks an important milestone in our journey as we take the next step as a publicly traded company. Through this business combination, we will accelerate the production of quantum computing solutions, We are well-positioned to accelerate our growth strategy, using capital raised through business combinations and new access to public markets to continue to unlock our power to benefit business and society. The era of commercial quantum computing has arrived.”

D-Wave offers the only complete end-to-end quantum solution, We are the only company building both annealing and gate model quantum computers, encompassing hardware, software, real-time quantum cloud services, developer tools, and powerful quantum hybrid solvers. With a focus on constant innovation and product offerings, D-Wave has so far brought five generations of quantum computers to market, and in June 2022 he will experimentally launch his Advantage2, the sixth generation machine. I launched a prototype. D-Wave also holds a broad portfolio of over 200 patents applicable to both annealing and gate-based quantum computing.

D-Wave’s commercial customers include about 20 companies Forbes Global 2000 Companies and industry leaders such as Volkswagen, Accenture, BBVA, NEC Corporation, Save-On-Foods, DENSO and Lockheed Martin are exploring quantum hybrid applications. In addition to enterprise customers actively using D-Wave to solve complex computational problems, thousands of developers around the world are using it for resource scheduling, mobility, logistics, drug discovery, and portfolio optimization. , has built hundreds of early-stage quantum applications in diverse areas, including manufacturing processes. , etc.

Chief Executive Officer Alan Baratz will continue to lead the company’s operations. As part of the business combination, Emil Michael, his CEO and Chairman of DPCM Capital, will join his D-Wave Quantum board of directors.

Emil Michael, CEO of DPCM Capital, Inc. said: Wave is the world’s only commercial quantum computing company and the only quantum computing company building both annealing and gate model quantum computers. As a result, the company believes it can tap a significant portion of the multi-billion dollar quantum computing total addressable market (TAM). We are confident that D-Wave will provide long-term value to our shareholders and look forward to continuing to support them. ”

About D-Wave Quantum Inc.

D-Wave is a leader in the development and delivery of quantum computing systems, software and services, the world’s first commercial supplier of quantum computers, and the only company to build both annealing and gate-model quantum computers. is. Our mission is to unlock the power of quantum computing today to benefit business and society. We do this by delivering value to our customers using practical quantum applications for a range of problems, including logistics, artificial intelligence, materials science, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. doing. D-Wave systems are used by some of the world’s most advanced organizations, including NEC Corporation, Volkswagen, Denso, Lockheed Martin, Forschungszentrum Jülich, University of Southern California, and Los Alamos National Laboratory. D-Wave’s U.S. operations are based in Palo Alto, California, with the Center for Quantum Engineering Excellence based near Vancouver, Canada.

Source: D-Wave