10-Q Filing

Rigetti Computing, Inc. CIK: 1838359 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-057055`
Period End Date	20210930
Filing Date	20211115
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	snii-10q_20210930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 13 Cash Flow Statement 33 Stockholders Equity 14

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$925.44K	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`	$346.25K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.31K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.27M	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`	$10.31K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investments held in Trust Account	`InvestmentsFairValueDisclosure`	$345.01M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Assets	`Assets`	$346.80M	USD	Point-in-time
Total Assets	`Assets`	$346.62M	USD	Point-in-time
Total Assets	`Assets`	$43.31K	USD	Point-in-time
Total Assets	`Assets`	$346.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$150.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$33.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$845.25K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$995.25K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.00K	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingCommissionNoncurrent`	$12.07M	USD	Point-in-time
Derivative warrant liabilities	`DerivativeLiabilitiesNoncurrent`	$10.46M	USD	Point-in-time
Total Liabilities	`Liabilities`	$28.53M	USD	Point-in-time
Total Liabilities	`Liabilities`	$26.27M	USD	Point-in-time
Total Liabilities	`Liabilities`	$23.53M	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
Class A ordinary shares subject to possible redemption, $0.0001 par value; 34,500,000 and -0- at $10.00 per share as of September 30, 2021 and December 31, 2020, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$345.00M	USD	Point-in-time
Class A ordinary shares subject to possible redemption, $0.0001 par value; 34,500,000 and -0- at $10.00 per share as of September 30, 2021 and December 31, 2020, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$345.00M	USD	Point-in-time
Class A ordinary shares subject to possible redemption, $0.0001 par value; 34,500,000 and -0- at $10.00 per share as of September 30, 2021 and December 31, 2020, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$345.00M	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
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
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.69K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-26.91M	USD	Point-in-time
Total Shareholders' Equity (Deficit)	`StockholdersEquity`	$-26.91M	USD	Point-in-time
Total Shareholders' Equity (Deficit)	`StockholdersEquity`	$10.31K	USD	Point-in-time
Total Shareholders' Equity (Deficit)	`StockholdersEquity`	$-24.47M	USD	Point-in-time
Total Shareholders' Equity (Deficit)	`StockholdersEquity`	$-22.25M	USD	Point-in-time
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$43.31K	USD	Point-in-time
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$346.28M	USD	Point-in-time
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$346.80M	USD	Point-in-time
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$346.62M	USD	Point-in-time

Income Statement 13 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$570.39K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.20M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.20M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-570.39K	USD	1 Quarter
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$-5.23M	USD	1 Quarter
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$-2.75M	USD	3 Qtrs
Offering costs associated with derivative warrant liabilities	`OfferingCostsAssociatedWithDerivativeLiabilities`	$502.45K	USD	3 Qtrs
Income from investments held in Trust Account	`GainLossOnInvestments`	$5.21K	USD	1 Quarter
Income from investments held in Trust Account	`GainLossOnInvestments`	$11.95K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$-2.45M	USD	1 Quarter
Net income	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.06M	USD	3 Qtrs

Cash Flow Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$1.06M	USD	3 Qtrs
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$-5.23M	USD	1 Quarter
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$-2.75M	USD	3 Qtrs
Offering costs associated with derivative liabilities	`OfferingCostsAssociatedWithDerivativeLiabilities`	$502.45K	USD	3 Qtrs
Income from investments held in Trust Account	`GainLossOnInvestments`	$5.21K	USD	1 Quarter
Income from investments held in Trust Account	`GainLossOnInvestments`	$11.95K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$335.94K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$150.00K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$727.25K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-476.57K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-565.12K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-653.97K	USD	3 Qtrs
Cash deposited in Trust Account	`CashDepositedInTrustAccount`	$345.00M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-345.00M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-345.00M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-345.00M	USD	1 Quarter
Proceeds from note payable to related party	`ProceedsFromNotesPayable`	$275.00K	USD	3 Qtrs
Repayment of note payable to related party	`RepaymentsOfNotesPayable`	$275.00K	USD	3 Qtrs
Proceeds received from initial public offering, gross	`ProceedsFromIssuanceInitialPublicOffering`	$345.00M	USD	3 Qtrs
Proceeds received from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$8.90M	USD	3 Qtrs
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$7.32M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$346.58M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$346.86M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$346.80M	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$925.44K	USD	3 Qtrs
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$925.44K	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$925.44K	USD	Point-in-time
Offering costs included in accrued expenses	`NonCashOfferingCostsIncludedInAccruedExpense`	$302.00K	USD	1 Quarter
Offering costs included in accrued expenses	`NonCashOfferingCostsIncludedInAccruedExpense`	$302.00K	USD	2 Qtrs
Offering costs included in accrued expenses	`NonCashOfferingCostsIncludedInAccruedExpense`	$85.00K	USD	3 Qtrs
Deferred underwriting commissions	`NonCashDeferredUnderwritingCommissions`	$12.07M	USD	2 Qtrs
Deferred underwriting commissions	`NonCashDeferredUnderwritingCommissions`	$12.07M	USD	1 Quarter
Deferred underwriting commissions	`NonCashDeferredUnderwritingCommissions`	$12.07M	USD	3 Qtrs

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$-26.91M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$10.31K	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-24.47M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-22.25M	USD	Point-in-time
Sale of private placement warrants to Sponsor in private placement, less allocation to derivative warrant liabilities	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$4.41M	USD	1 Quarter
Accretion of Class A ordinary shares to redemption amount (restated, see Note 2)	`AccretionOfOrdinarySharesToRedemptionAmount`	$-27.72M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.45M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$4.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$1.06M	USD	3 Qtrs
Ending balance	`StockholdersEquity`	$-26.91M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$10.31K	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-24.47M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-22.25M	USD	Point-in-time

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