D-Wave Quantum Inc. (QBTS) files to remove its stock from NYSE listing

Rhea-AI Filing Summary

D-Wave Quantum Inc. is taking steps to remove its common stock from listing and registration on the New York Stock Exchange under Section 12(b) of the Securities Exchange Act of 1934 via Form 25. The filing relates to the company’s common stock, par value $0.0001 per share.

The company certifies that it has reasonable grounds to believe it meets all requirements for filing Form 25 and that applicable Exchange and SEC rules governing withdrawal from listing and registration have been complied with. The notification is signed by President and Chief Executive Officer Alan Baratz on July 24, 2026.

Positive

• None.

Negative

• Common stock removal from NYSE listing: D-Wave Quantum Inc. is removing its common stock from listing and registration on the New York Stock Exchange under Section 12(b), eliminating access to that major exchange.

Filing Explained

The July 24 Form 25 records D-Wave Quantum Inc.’s voluntary process to remove its common stock from New York Stock Exchange listing and Section 12(b) registration; it does not say that removal has already taken effect, so the filing establishes a pending process rather than a completed change to the stock’s listing or registration.

Key Figures

Form type: Form 25 Security affected: Common stock, par value $0.0001 per share Form 25 date: July 24, 2026

3 metrics

Form type Form 25 Notification of removal from listing and registration under Section 12(b)

Security affected Common stock, par value $0.0001 per share Class of securities being removed from NYSE listing and registration

Form 25 date July 24, 2026 Date on which the notification is signed by the President & Chief Executive Officer

Key Terms

Form 25, Section 12(b) of the Securities Exchange Act of 1934, withdraw registration, 17 CFR 240.12d2-2

4 terms

Form 25 regulatory

"FORM 25 NOTIFICATION OF REMOVAL FROM LISTING AND/ REGISTRATION"

A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.

Section 12(b) of the Securities Exchange Act of 1934 regulatory

"REMOVAL FROM LISTING AND/ REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES"

withdraw registration regulatory

"to strike the class of securities from listing and/or withdraw registration on the Exchange"

17 CFR 240.12d2-2 regulatory

"Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules"

A U.S. Securities and Exchange Commission rule that describes the conditions and procedural steps for a security to be removed from public registration or reporting under the Securities Exchange Act of 1934. For investors, it matters because it explains when a company’s shares can stop being subject to regular disclosure and exchange listing rules — similar to knowing when a publicly tracked product will be discontinued and no longer send updates, which affects transparency and liquidity.

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FAQ

What does D-Wave Quantum Inc. (QBTS) report in its Form 25 filing?

D-Wave Quantum Inc. filed Form 25 to remove its common stock from listing and registration on the New York Stock Exchange under Section 12(b) of the Securities Exchange Act of 1934.

Which securities of D-Wave Quantum Inc. (QBTS) are affected by this Form 25?

The filing covers D-Wave Quantum Inc.’s common stock, with a par value of $0.0001 per share, which is being removed from NYSE listing and registration under Section 12(b).

What regulatory basis is cited for D-Wave Quantum Inc. (QBTS) delisting action?

The action is taken under Section 12(b) of the Securities Exchange Act of 1934 and related rules, including 17 CFR 240.12d2-2, governing removal from listing and registration.

Who signed D-Wave Quantum Inc. (QBTS) Form 25 and in what capacity?

The Form 25 is signed by Alan Baratz, who is identified as President & Chief Executive Officer of D-Wave Quantum Inc., acting as a duly authorized person on behalf of the company.

When did D-Wave Quantum Inc. (QBTS) execute the Form 25 for NYSE removal?

D-Wave Quantum Inc. dated its Form 25 on July 24, 2026, certifying compliance with Exchange and SEC requirements for removing its common stock from NYSE listing and registration.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR

REGISTRATION UNDER SECTION 12(b) OF THE

SECURITIES EXCHANGE ACT OF 1934

_______________

Commission File Number 001-41468

D-Wave Quantum Inc. New York Stock Exchange

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

_______________

2650 East Bayshore Road
Palo Alto, California 94303
(650) 285-2881

(Address, including zip code, and telephone number, including area code, of Issuer’s principal executive offices)

_______________

Common stock, par value $0.0001 per share

(Description of class of securities)

_______________

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

☐    17 CFR 240.12d2-2(a)(1)

☐    17 CFR 240.12d2-2(a)(2)

☐    17 CFR 240.12d2-2(a)(3)

☐    17 CFR 240.12d2-2(a)(4)

☐    Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange.1

☒    Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with the rules of the Exchange and requirements of 17 CFR 240.12d2-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

_______________

1 Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Pursuant to the requirements of the Securities Exchange Act of 1934, D-Wave Quantum Inc. certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

Date: July 24, 2026			D-Wave Quantum Inc.
			By:			/s/ Alan Baratz
			Name:			Alan Baratz
			Title:			President & Chief Executive Officer