SCHEDULE 13G/A: Investment Funds Divest Entire Stake in Rigetti Computing, Inc.

CVI Investments, Inc. and Heights Capital Management, Inc. have filed an amended Schedule 13G, reporting zero beneficial ownership of Rigetti Computing, Inc. common stock as of December 31, 2024.

Summary

• This document is an Amendment No. 1 to a Schedule 13G filing concerning Rigetti Computing, Inc.'s common stock.
• The reporting persons are CVI Investments, Inc., a Cayman Islands entity, and Heights Capital Management, Inc., a Delaware entity.
• As of December 31, 2024, both reporting persons collectively hold 0.00 shares of Rigetti Computing, Inc. common stock, representing 0% of the class.
• Heights Capital Management, Inc. serves as the investment manager to CVI Investments, Inc. and may exercise voting and dispositive power over the shares.
• The filing certifies that the securities were not acquired or held for the purpose of changing or influencing the control of Rigetti Computing, Inc.

Sentiment

Score: 3

Explanation: The filing indicates a complete divestment of Rigetti Computing, Inc. common stock by CVI Investments, Inc. and Heights Capital Management, Inc., which could be interpreted as a negative signal regarding investor confidence in the company.

Negatives

• The reporting persons, CVI Investments, Inc. and Heights Capital Management, Inc., now hold 0% beneficial ownership, indicating a complete divestment of their previous holdings in Rigetti Computing, Inc. common stock.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding Rigetti Computing, Inc.'s future performance or operations.

Management Comments

• Brian Sopinsky, Secretary of Heights Capital Management, Inc., certified that the securities referred to were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of Rigetti Computing, Inc.

Industry Context

This filing indicates a change in institutional ownership for Rigetti Computing, Inc., a company operating in the quantum computing sector. A complete divestment by institutional investors can reflect a shift in their investment strategy or a change in sentiment towards the company or the broader industry, although the specific reasons are not disclosed in this filing.

Stakeholder Impact

• Shareholders: Existing shareholders may view the complete divestment by these institutional investors negatively, potentially impacting share price due to perceived lack of institutional confidence.
• Company: The company loses these specific institutional investors as shareholders, which could affect liquidity or investor relations.

Key Dates

Recommendation

Keywords

Rigetti Computing Inc., CVI Investments Inc., Heights Capital Management Inc., Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Divestment, Institutional Ownership