10-Q Filing

Rigetti Computing, Inc. CIK: 1838359 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-044342`
Period End Date	20210630
Filing Date	20210813
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	snii-10q_20210630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 41 Income Statement 12 Cash Flow Statement 27 Stockholders Equity 14

Balance Sheet 41 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$1.23M	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	$23.46K	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
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.31K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$360.68K	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.31K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.62M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred offering costs	`DeferredCosts`	$33.00K	USD	Point-in-time
Investments held in Trust Account	`InvestmentsFairValueDisclosure`	$345.01M	USD	Point-in-time
Total Assets	`Assets`	$346.62M	USD	Point-in-time
Total Assets	`Assets`	$43.31K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$53.62K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$33.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$714.61K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$380.00	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$768.61K	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingCommissionNoncurrent`	$12.07M	USD	Point-in-time
Derivative warrant liabilities	`DerivativeLiabilitiesNoncurrent`	$15.69M	USD	Point-in-time
Total Liabilities	`Liabilities`	$28.53M	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
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`	$8.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$24.14K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.69K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.62M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$5.00M	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 Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$346.62M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$43.31K	USD	Point-in-time

Income Statement 12 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$489.64K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$624.89K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-489.64K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-624.89K	USD	2 Qtrs
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$1.96M	USD	1 Quarter
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$2.48M	USD	2 Qtrs
Offering costs associated with derivative warrant liabilities	`OfferingCostsAssociatedWithDerivativeLiabilities`	$502.45K	USD	2 Qtrs
Income from investments held in Trust Account	`GainLossOnInvestments`	$5.15K	USD	1 Quarter
Income from investments held in Trust Account	`GainLossOnInvestments`	$6.74K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.45M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.60M	USD	2 Qtrs

Cash Flow Statement 27 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-3.60M	USD	2 Qtrs
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$1.96M	USD	1 Quarter
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$2.48M	USD	2 Qtrs
Offering costs associated with derivative liabilities	`OfferingCostsAssociatedWithDerivativeLiabilities`	$502.45K	USD	2 Qtrs
Income from investments held in Trust Account	`GainLossOnInvestments`	$5.15K	USD	1 Quarter
Income from investments held in Trust Account	`GainLossOnInvestments`	$6.74K	USD	2 Qtrs
Due from related party	`IncreaseDecreaseInDueFromRelatedParties`	$23.46K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$350.38K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$53.62K	USD	2 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$380.00	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$379.61K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-565.12K	USD	2 Qtrs
Cash deposited in Trust Account	`CashDepositedInTrustAccount`	$345.00M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-345.00M	USD	2 Qtrs
Proceeds from note payable to related party	`ProceedsFromNotesPayable`	$275.00K	USD	2 Qtrs
Repayment of note payable to related party	`RepaymentsOfNotesPayable`	$275.00K	USD	2 Qtrs
Proceeds received from initial public offering, gross	`ProceedsFromIssuanceInitialPublicOffering`	$345.00M	USD	2 Qtrs
Proceeds received from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$8.90M	USD	2 Qtrs
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$7.10M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$346.80M	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.23M	USD	2 Qtrs
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.23M	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.23M	USD	Point-in-time
Offering costs included in accrued expenses	`NonCashOfferingCostsIncludedInAccruedExpense`	$302.00K	USD	2 Qtrs
Deferred underwriting commissions	`NonCashDeferredUnderwritingCommissions`	$12.07M	USD	2 Qtrs
Initial value of Class A ordinary shares subject to possible redemption	`InitialValueOfCommonStockSubjectToPossibleRedemption`	$316.11M	USD	2 Qtrs
Change in value of Class A ordinary shares subject to possible redemption	`ChangeInValueOfCommonStockSubjectToPossibleRedemption`	$-3.02M	USD	2 Qtrs

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$10.31K	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`	$-2.45M	USD	1 Quarter
Class A ordinary shares subject to possible redemption	`CommonStockValueSubjectToPossibleRedemption`	$315.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.45M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.60M	USD	2 Qtrs
Ending balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$10.31K	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.