SCHEDULE: Public Sector Pension Investment Board Reduces Stake in D-Wave Quantum Inc.

Public Sector Pension Investment Board files an amendment to its Schedule 13G, reporting a decrease in beneficial ownership of D-Wave Quantum Inc. common stock from 40,057,252 exchangeable shares to 5,400,000 shares as of January 22, 2025.

Summary

• Public Sector Pension Investment Board (PSP Investments) filed an amendment to Schedule 13G regarding its ownership in D-Wave Quantum Inc.
• As of December 31, 2024, PSP Investments held 40,057,252 exchangeable shares of D-Wave Quantum Technologies Inc., which were exchangeable into an equivalent number of D-Wave Quantum Inc. common stock shares.
• By January 22, 2025, PSP Investments' holdings changed to 5,400,000 shares of D-Wave Quantum Inc. common stock.
• This represents approximately 2.0% of the outstanding common stock as of January 22, 2025.
• The percentage is calculated based on 225,389,000 shares outstanding as of December 27, 2024, plus 40,057,252 shares issued upon the exchange of the exchangeable shares.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the reduction in shareholding by a major institutional investor. While the document itself is neutral, the action implies a potentially less optimistic outlook from PSP Investments.

Negatives

• The reduction in shareholding by a major institutional investor like PSP Investments could be perceived negatively by the market.

Risks

• The reason for the reduction in shareholding is not disclosed, which could lead to speculation and uncertainty.
• Significant changes in institutional ownership can create volatility in the stock price.

Future Outlook

The document does not contain any specific forward-looking statements regarding D-Wave Quantum Inc.'s future performance or PSP Investments' future investment plans.

Industry Context

Institutional ownership changes are common in the technology sector, especially in companies like D-Wave that are involved in emerging technologies like quantum computing. Monitoring these changes can provide insights into investor sentiment and potential future stock performance.

Comparison to Industry Standards

• It's difficult to compare this specific ownership change to industry standards without knowing the reasons behind PSP Investments' decision.
• Generally, institutional investors often adjust their holdings based on their investment strategies, risk tolerance, and outlook on the company's future prospects.
• Comparable companies in the quantum computing space, such as IonQ and Rigetti, also experience fluctuations in institutional ownership.

Stakeholder Impact

• Shareholders may react to the news of PSP Investments' reduced stake.
• Employees may experience uncertainty if the reason for the change is perceived negatively.
• The company's relationships with suppliers and customers are unlikely to be directly affected by this ownership change.

Key Dates

Keywords

D-Wave Quantum Inc., Public Sector Pension Investment Board, Schedule 13G, Beneficial Ownership, Common Stock, Exchangeable Shares