10-Q Filing

Rigetti Computing, Inc. CIK: 1838359 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-033226`
Period End Date	20210331
Filing Date	20210616
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	snii-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 6 Cash Flow Statement 24 Stockholders Equity 11

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Temporary equity, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$1.39M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.31K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$414.75K	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.31K	USD	Point-in-time
Deferred offering costs	`DeferredCosts`	$33.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investments held in Trust Account	`InvestmentsFairValueDisclosure`	$345.00M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Assets	`Assets`	$346.88M	USD	Point-in-time
Total Assets	`Assets`	$43.31K	USD	Point-in-time
Total Assets	`Assets`	$346.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$65.45K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$393.30K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$33.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$489.94K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$458.75K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.00K	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingCommissionNoncurrent`	$12.07M	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingCommissionNoncurrent`	$12.07M	USD	Point-in-time
Due to related party	`DueToRelatedPartiesNoncurrent`	$4.82K	USD	Point-in-time
Derivative warrant liabilities	`DerivativeLiabilitiesNoncurrent`	$13.73M	USD	Point-in-time
Derivative warrant liabilities	`DerivativeLiabilitiesNoncurrent`	$13.21M	USD	Point-in-time
Total liabilities	`Liabilities`	$25.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$26.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.00K	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A ordinary shares, $0.0001 par value; 31,553,430 and -0- shares subject to possible redemption at $10.00 per share as of March 31, 2021 and December 31, 2020, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$316.11M	USD	Point-in-time
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$24.14K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$6.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$5.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.69K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-544.27K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$10.31K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$346.80M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$346.88M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$43.31K	USD	Point-in-time

Income Statement 6 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$135.25K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-135.25K	USD	1 Quarter
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$523.00K	USD	1 Quarter
Offering costs associated with derivative warrant liabilities	`OfferingCostsAssociatedWithDerivativeLiabilities`	$502.45K	USD	1 Quarter
Income from investments held in Trust Account	`GainLossOnInvestments`	$1.59K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter

Cash Flow Statement 24 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.16M	USD	1 Quarter
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$523.00K	USD	1 Quarter
Offering costs associated with derivative liabilities	`OfferingCostsAssociatedWithDerivativeLiabilities`	$502.45K	USD	1 Quarter
Income from investments held in Trust Account	`GainLossOnInvestments`	$1.59K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$404.44K	USD	1 Quarter
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$4.82K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$58.30K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-476.57K	USD	1 Quarter
Cash deposited in Trust Account	`CashDepositedInTrustAccount`	$345.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-345.00M	USD	1 Quarter
Proceeds from note payable to related party	`ProceedsFromNotesPayable`	$275.00K	USD	1 Quarter
Repayment of note payable to related party	`RepaymentsOfNotesPayable`	$275.00K	USD	1 Quarter
Proceeds received from initial public offering, gross	`ProceedsFromIssuanceInitialPublicOffering`	$345.00M	USD	1 Quarter
Proceeds received from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$8.90M	USD	1 Quarter
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$7.04M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$346.86M	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.39M	USD	1 Quarter
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.39M	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.39M	USD	Point-in-time
Offering costs included in accounts payable	`NonCashOfferingCostsIncludedInAccountsPayable`	$65.45K	USD	1 Quarter
Offering costs included in accrued expenses	`NonCashOfferingCostsIncludedInAccruedExpense`	$302.00K	USD	1 Quarter
Deferred underwriting commissions	`NonCashDeferredUnderwritingCommissions`	$12.07M	USD	1 Quarter
Initial value of Class A ordinary shares subject to possible redemption	`InitialValueOfCommonStockSubjectToPossibleRedemption`	$316.11M	USD	1 Quarter
Change in value of Class A ordinary shares subject to possible redemption	`ChangeInValueOfCommonStockSubjectToPossibleRedemption`	$-575.92K	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$10.31K	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Sale of units in initial public offering, less allocation to derivative warrant liabilities	`StockIssuedDuringPeriodValueNewIssues`	$336.29M	USD	1 Quarter
Offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$19.01M	USD	1 Quarter
Sale of private placement warrants to Sponsor in private placement, less allocation to derivative warrant liabilities	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$4.41M	USD	1 Quarter
Class A ordinary shares subject to possible redemption	`CommonStockValueSubjectToPossibleRedemption`	$315.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$10.31K	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.00M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.