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AMA#19 - $SNII / Rigetti Computing w/ CEO Chad Rigetti
AMA Schedule November/December 2021 (Holidays AMA list)
$SNII Rigetti Quantum Computing - a sympathy play to IONQ
SNII - Rigetti Awarded Department of Energy Contract to Develop Quantum Simulation for Fusion Energy
$SNII - Rigetti Computing, a Global Leader in Full-Stack Quantum Computing, Announces Plans to Become Publicly Traded via Merger with Supernova Partners Acquisition Company II , valued at $1.5b
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BERKELEY, Calif., March 02, 2022 (GLOBE NEWSWIRE) -- Rigetti Computing (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in hybrid quantum-classical computing, and Supernova Partners Acquisition Company II, Ltd. (“Supernova”) (NYSE: SNII), a special purpose acquisition company, today announced the completion of their Business Combination (the “Business Combination”). The Business Combination was approved by Supernova’s shareholders at Supernova’s Extraordinary General Meeting held on February 28, 2022. In connection with the closing, Supernova changed its name to “Rigetti Computing, Inc.” Starting this morning, Rigetti’s common stock and warrants will trade on the Nasdaq Capital Market under the ticker symbols “RGTI” and “RGTIW,” respectively. At the closing of the Business Combination, Rigetti received gross proceeds of approximately $261.75 million. The Company plans to use the net proceeds to accelerate its development of multiple generations of quantum processors, expand its operations, and for general corporate purposes.
SNII ticker change today, anyone in this?
SNII might go parabolic this week. I can't find one expert who likes it, meaning they are short. But put quantum in front of something and the street will most likely eat it up.
I know I’ve asked this before in the past, but does anyone exclusive focus on trading/scalping NAV spacs? Is it realistic to aim for 6-10% annual return? Examples of what I’ve been doing: Bought SNII at 9.85 last month, sold at 9.99 the other day Bought FPAC at 9.82, waiting to sell at close to NAV. Some people say if you’re going to do this then just buy spy or an index fund, but that strategy doesn’t offer the same risk or downside protection.
I short this a week ago. Shame, the same happened to my MBAC shorts. It is more difficult to find next spac deal for shorting. Still considering SNII puts.
Hmm. Still don’t understand what’s going on here. March 8th deadline. No filing since 24th dec. SNII just put vote date the 28th so realistically need to set vote within the next week? Or get extended
Personally think it’s more to do with people seeing where IONQ and SNII warrants trade and bidding these up. Unfortunately this won’t be the pop at all on most of other pre DA warrants that announce 😢
>Best arb opportunities? I took SNII from 9.83 to 9.99 over a couple weeks. Looking for next 1-2% return in under a month FTCV - if the deal is announced it will gap up to 9.97 or whatever the NAV is, if the deal is off, will plummet to 9.6s and then settle at 9.7 or 9.8
Best art opportunities? I took SNII from 9.83 to 9.99 over a couple weeks. Looking for next 1-2% return in under a month
Ya I hope it stays just above $10, but gets back down near $10.2. We lost SNII and CND so it’s the last one left right now
Yeah I think you’re generally right in approach but the pickings are relatively slim — only a few DAs have escaped the clutches of arbs, and even those can slip back down to near-NAV with inertia (see BRPM, SNII, or CND as examples). Now they still might have upside and pop but they might also just sit for months doing nothing, particularly without any catalysts.
I put mine in SNII and CND hoping if market gets decent they can get a couple %. Since they traded above $10 for so long.
I like it as a potential bounce and one that has proven it can escape nav. Thinking SNII and CND might be solid plays here for low risk decent reward
Fellow SNII sniper, I wish us both luck in the quantum entanglement of an IONQ bounce
Moved a lot of stuff around today, SPAC portfolio is basically concentrated in 5 large plays now. 1. SNII commons as a cash park. $10.06 basis (45% of profile) 2. CFVI Commons, selling jan and feb 12.50/15 calls (basis $11.03, closer to $10.50 factoring calls sold so far) (30% of portfolio) 3. DCRNW, $1.43 basis. Holding through merger, (10% of portfolio). 4. RBAC/WS, $1.12 basis (5% of portfolio) 5. SPAQ/WS, $1.06 basis (5% of portfolio) My other 5% is small post DA warrant positions in a handful of deals purchased recently. After a very successful 2020 and 2021 trading spacs, feeling cautiously optimistic to start 2022 despite all the blood. Good luck to all!
For nav(ish) commons with some upside potential I have CND, SNII, SBEA, and BRPM in that weighted order. On my list for potential but less conviction are FPAC and FTCV. Would buy near nav GGPI, CFVI, ESSC Anything else I should be aware of/watching?
Alright, out of IVAN fully. 7.50c took a while to move but didnt take much of a hit which is nice. Rolling into CND, SBEA, SNII, and BRPM which seem to have okay chances of moving at least a little.
Anyone still in SNII commons? Looking for a low-risk premerger SPAC that might float up while the tide is rising.
Quantum computing stocks if you’re just going to leave it there for 20+ years. Very promising and potential to revolutionize the industry. A couple tickers: $IONQ $SNII
SNII may be the next IONQ
GGPI and CFVI are solid picks although CFVI just had a decent runup. XPDI didn’t work out for me but CND might be another one. SNII and BRPM are two others that are somewhat above NAV that have high-ish warrants and have moved in the past but I don’t know enough about potential catalysts to gauge their ability to move going forwards. Really slim pickings overall.
Any SNII news? It broke out of it's usual 10.25-10.30 comfort zone
I'd be interested to hear his thoughts on SNII versus IONQ as well? Please?
Simple: show him the investor presentations- easy PPT- take him a 3-6 min glance at each, and ask him which is better IONQ or SNII? Then tell him the prices, and ask again. Shrugs shoulders. He'll say IONQ due to the dudes pubs who founded it, and he probably doesn't even know Gates backed it, but I'd be curious to see what he says about SNII.
hopped into SNII as a IONQ sympathy play. Hopefully they move in tandem.
[Very interesting news](https://thequantuminsider.com/2021/12/27/rigetti-computing-spac-attracts-additional-45-million-investment/) on SNII/Rigetti yesterday: * \+$45M PIPE raised * "The additional commitments are at a premium to the previously announced PIPE, with a price per share of $10.25. All other terms are the same as the previously announced PIPE." Perhaps these investors are banking on this doing as well as IONQ.
I read on a quantum computing Reddit that word in silicon valley was that Rigetti would go bankrupt if it didn't SPAC. Having said that, I've got more SNII than IONQ because nav is still there.
What low risk commons do we like this upcoming week? I got a good chunk of cash available after selling the XPDI pop yesterday. Thinking SNII will be next near NAV to go up 10%
You should also be looking at SNII and BSGA.
I don't think any of the ones you mentioned are likely to move before merger or at least not much. XPDI and CND seem most likely imo but those two already recovered a bit yesterday. SNII is another one that might move again depending on what ionq does.
Also interesting as double invest on same business sector ... I have put same amount on this SPAC Supernova Partners Acq II (SNII) as this will be Rigetti after merge ✌🏻
Agree that SPACs need fixing. I've invested in exactly 2 (IONQ and SNII) but that was plenty to discover that the current process is all about gaming redemption rates, etc. and not about discovery of the appropriate price of the post-merger entity. That said, I don't have much faith that the SEC will clean up the process without squeezing out the small investor.
(Disclosure: I have a small position in IONQ and a smaller one in SNII-->Rigetti) Comments: 1. OP is correct in saying that there's not much point in investing in the biggies (Alphabet, etc) as QUANTUM plays. (But SPY, QQQ, and the FAANGs or whatever are pretty good bets on large-cap tech in general.) 2. RE: IONQ: their investor pre-SPAC-merger presentations project significant revenue starting in 2023 and cash-flow-positive in 2025/6. Negligible actual revenue now, so things like PE are pretty meaningless. Now that it's out of the SPAC merry-go-round process, it's a highly speculative long-term bet on the company being one of the survivors that develop a useful QC architecture, and executing well enough to take advantage of it. 3. However, IONQ has some impressive backing. Alphabet owns a bit over 10% of it (per E\*Trade data). Its first operational computers are running in all three major clouds on a SaaS basis (selling presumably to those trying to develop quantum algorithms and languages.) They also have have partnerships with Goldman (experimenting with financial applications), Accenture and others. And lots of IP licensed from UMd, with whom they are also building a National Quantum Lab at Maryland (Q-Lab.) So I'd say that are on the short-list of quantum-computer-specialist companies, but again, highly speculative. 4. Rigetti is another QC-specialist startup, now expected to go public via the SPAC route in the next few months. The SPAC sponsor is SuperNova Partners Acquisition Co. II Ltd -- SNII. Interesting about Rigetti is that one of their investors is IN-Q-Tel, the US Intelligence Community's "venture-capital" entity. No sure that means much--just interesting. 5. RE: timeline for useful quantum computing capability. I am NOT a physicist, so I am interested to see other comments suggesting that QC won't be real for a long time. However, I did read and article this week on the potential challenges posed by QC threats to increasingly electronic and especially self-driving vehicles: basically, current encryption will be broken by QC so computer-dependent automobiles will be vulnerable to hacking. The article noted that NIST, which has been working on quantum-safe encryption algorithms for some years now, advises that all sectors should plan to have their encryption and authentication infrastructures converted to quantum-safe algorithms not later than 2030. (Which, BTW won't happen.) So that's eight years and three weeks from now. I would LOVE to have a good source to keep up with the "short list" of companies in the lead for developing practical QCs. If there were an ETF doing that I'd buy it, but not if it is diluted with big companies like Alphabet, IBM, Honeywell, etc. Meanwhile, I'm trying to track any small QC-specialist companies that have public shares and seem to have a plausible approach to scalability, error correction and practical hardware requirements. Does anyone have a good source of such info, like a journal or quantum industry mag that is not so technical I can't read it? Good luck to all!
SNII actually getting some love again today. I got seasick from the IONQ movement and sold out and moved my winnings to SNII. After hours of watching videos and reading articles, I still feel like I don’t know shit about quantum. So… figured I’d cover both bases. DMY seems to have much better PR skills, but hopefully SNII has some tricks they haven’t shown us yet.
How can we get all those and leave SNII in the cold? I sense a conspiracy of epic proportions.
AMA for SNII in the SPAC subreddit on December 15th
Has SNII filed any paperwork yet towards a merger? I can’t find an S4. But are they foreign? Is there an F4 I am missing?
Is SNII the only pure quantum computing stock under $15 currently?
I have not heard of SNII, but I have heard of IQNQ. what makes them special?
IONQ and SNII - leading the way in quantum computing
I kept SNII, IVAN, and a ton of other positions. But trimmed my GGPI options, GWH warrants, some of my DCRCW, etc. Sold out of the riskier plays. I still like GGPI and DCRC longer term, but risking some possible gains in favor of capital preservation.
Yo. Idk if this is allowed here because it's a spac, but its post merger valuation is 1.5b. Currently it's sitting at a 500m cap. Rigetti computing is merging with SNII. It's a pure quantum computing play and a sympathy play to IONQ. I'm in at a cost basis of ~10.5 it does not have options yet, but it does have warrants. I believe it will be something that eventually gain traction even if it's after a post merger dump. I picked it up due to its partnership with pltr and that they bought 1m stake in it. It seems like it may have an advantage due to having it's own established fab and a "stackable" technology that allows easier expansion I guess. Engineers know way more than I do about it. Anyways I think this is something to keep on your radar. It has all the buzzwords and potential of a good play. I wouldn't buy in over 11 and really 10.5 would be the target. Here is the merger annoucnment https://www.rigetti.com/merger-announcement <3
SNII merging with Rigetti. Rigetti seems to have good presence in patents and apps in quantum computing space. https://quantumconsortium.org/blog/trends-in-quantum-computing-patents/
$SNII-Rigetti is starting to get noticed... i will definitely want to hear presentation
Yeah I’ve got some SNII as well. Wish I’d bought today’s dip aggressively but missed it. Oh well, at least I have some…
Really!? This article gave a revenue projection for DWAC? And thinks the silly falling rock energy company isn’t trash!!? Aside from liking SNII and having hopium storedot, this article is ridiculous. How could he possibly make a revenue projection on DWAC?? That’s like guessing the revenue of the first strip club on Mars.
Next up is SNII its a sympathy play to IONQ
Check out SNII if you are interested in Quantum Computing.
Surprised SNII isn’t getting any love as a sympathy play to IONQ Glad to see PIPP gaining traction; fingers crossed for an announcement soon
Can someone explain the process of buying the SNII and how the shares will be converted to RGTI? Will my shares get diluted once the merger happen? Basically, is it better to buy after the merger happens?
So SNII is seriously going to $20 this week isn't it? WTF
Already in DCRC somewhat heavily, and have bought and sold GGPI a couple times. Will check into SNII, think that makes some sense.
DMYQ, SNII, DCRC do I hold or sell to allocate cash to something that’ll move? I’m pretty much even with all of these so it’s not like I’m at a loss.
I have the ones you mentioned except CND (already had warrants) And also DCRC and IVAN as the sector is hot right now and SNII (as a sympathy play to IONQ). Do you play to hold them after merger?
Naturally I’m kicking myself for getting out of IONQ back when it was floundering around $10. So should I chase this to get back in possibly after warrant redemption, get in now, or stake out a position in SNII? God damn I wish I didn’t sell those shares…
Bought SNII hoping it heats up with the other quantum computing stocks.
SNII DMYQ are good places to park cash. I have some there.
Good read on the landscape of QC https://semiengineering.com/the-great-quantum-computing-race/ SNII IONQ are in there
Looks like everyone’s made money in BTTX today. I’m in the middle of a few things so don’t have capacity to play this. But happy for you all! DM is finally waking up from hibernation, rare scene, my position is +12%, still holding, thesis was DM had better chance to really bounce back. DCRC RDW not too shabby! Sold some FPAC calls. Started a small position in SNII, sympathy play. Holding small position of IONQ steady.
DBDR SEAH CND DMYQ CBAH ADF SNII would be the top ones. I like to play things closer to merger so I’m only in DBDR SEAH CND for now but should be adding some of those others in the next month or so.
Consensus seems to be that SNII is inferior by far. But maybe they'll turn it around..
Can you pitch SNII to me? Need to park some cash.
Did the same and moved the money to SNII.
Sold the rest of my IONQ shares and bought SNII with the money. Seems like better risk reward at this point.
I like DA and still at $10. For that I am holding SNII.
Rumour with credijusto came out Aug 6. The warrants are currently priced for failure so even talks have fallen apart, they shouldn't drop much. Warrants were previously at $1 and 0.66 for a pre-DA 1/4 warrant is really cheap. See for example $SNII which was rumoured with a different company before merging with Rigetti. Warrants were also priced for failure at 0.76 and they then popped to 1.17 (currently at 1.42)
I'm not sure whether to sell some of my SNII Rigetti warrants. 1.40 is a decent price but seems like they could increase some still.
I think Quantum Computing is going to change the world in an insane way, not to take away anything from RKLB. Qubits scale exponentially, so adding one more qubit doubles the computing power. 54 qubits = as powerful as a 1950's computer 58 qubits = as poweful as a 1970's computer 66 qubits = as powerful as a modern cellphone 68 qubits = as powerful as a server CPU 72 qubits = as powerful as a room full of servers 82 qubits = as powerful as all datacenters of AWS 86 qubits = as powerful as all computing power we have today in the universe. Trapped ion qubits have scaling limitations. Rigetti's superconducting chips are cheap to manufacture and scale, albeit in titty cool temps. Bookmark NYSE: SNII which is going to turn into Rigetti $RGTI next year once the deal is through. Here is a technical presentation on their scaling capabilities: https://www.youtube.com/watch?v=IM1llJJ3AQY
A lot of the recently announced DAs are around 9.85-9.86 (GSQD, NXU, SNII). The cheapest one is TUGC around 9.84 (low of 9.81 today)
SNII warrants kinda cheap right now. $1.04. Well below ATH before DA. DA with Righetti quantum computing. 1/4 per unit.
My view is that it's better to buy the best sponsors' SPACs (especially those without warrants) even if they're newer given how hard it is to predict DA timing and how little a reaction the vast majority of DAs get these days. In other words, I'd rather have a 1% chance of getting a 20% next week on the next FWAA/SMRT than a 10% chance of getting a 1% pop on the next SNII haha But who knows, I could end up sitting on TCVA for a year, meanwhile the SPAC market has recovered and OACB announced the best deal of all time haha
SNII warrants pumped \~50% on DA today... the pops are there, people just don't have the balls to buy pre-DA warrants right now so prices will continue to low volume fall/fluctuate until they do unfortunately
So... is IONQ the leader or SNII? Or are we just handing out participation awards to everyone now?
Well, over 1/3 have already DA'd (including SNII today) or have great rumors, most of the rest are low dilution (1/3 or smaller splits in units) warrants for top tier vet sponsors (Klein, Gores, Cohen, Chu, Fortress, etc.), elite specialists in their fields like ACQR or LCAA, or loaded teams like CPAR, NVSA and PLMI, with cost bases usually sub .90. I'll start worrying about mid-2023 liquidations and crap deals-for-deals-sake in mid-2022. Most of my SPACs IPOd this year, so that is still a long ways away. For now, if you have time and patience to get good entries, there is no point to not be diversified with so many high quality teams trading so far below post merger averages, since we don't know which of the lot will merge with the top 10 percent of targets. But I probably will cull back quite a bit just because it's pretty damn time consuming to manage this many.
SNII warrant pop over 57% showing pre-DA warrants are still great when purchased at a good price. Stick to $0.40-$0.80 and there is great money to be made. \*cough CLAQW at a ridiculous $0.45.
I remember SNII was in talks with Buyers Edge a couple months ago? Looks like they switched to another target pretty quickly.
Really excited about this one. I had a nice little SNII position before this.
$SNII Rigetti Computing, a Global Leader in Full-Stack Quantum Computing, Announces Plans to Become Publicly Traded via Merger with Supernova Partners Acquisition Company II