Summary by Moomoo AI
On June 21, 2024, Rigetti Computing, Inc. entered into an Amended and Restated Loan and Security Agreement with Trinity Capital Inc., effectively modifying its existing loan agreement from March 10, 2021. The amendment does not provide for additional funds but restructures the terms of the existing Term Loans, which had a principal balance of $16,177,207.84 as of the amendment date. The Term Loans, which total $32 million disbursed at various intervals from March 2021 to January 2022, will continue to amortize over 48 months post-disbursement and bear interest at the greater of 11% or the US Prime Rate plus 7.50%. The company retains the option to prepay the loans with a scaled prepayment premium and is also subject to a final payment fee of 2.75% of the original principal amount upon...Show More