Rigetti Computing, Inc. 8-K

What Happened

• Rigetti & Co, LLC (a wholly owned Rigetti subsidiary) entered into a Sublease with Chinook Therapeutics, Inc. on April 17, 2026 to occupy approximately 12,543 rentable square feet of office and laboratory space at 740 Heinz Avenue, Berkeley, CA. The Sublease was disclosed in Rigetti Computing’s Form 8-K filed April 21, 2026.
• The Sublease is subject to consent from the Master Landlord (Seventh Street Properties VII, LLC); if that consent is not obtained within 60 days after the April 17, 2026 effective date, either party may terminate the Sublease. The lease term is scheduled to expire November 30, 2029 and the Commencement Date is the latest of (a) June 1, 2026, (b) receipt of the Master Landlord’s consent, or (c) delivery of possession in the agreed condition.

Key Details

• Space: ~12,543 rentable sq ft at 740 Heinz Avenue, Berkeley, CA.
• Rent schedule (Monthly Base Sublease Rent): $38,111.91 initial; $39,255.26 in year 2; $40,432.92 in year 3; $41,645.91 in year 4.
• Additional charges: Subtenant pays 11.19% of taxes, insurance and operating expenses allocated under the Master Lease.
• Other terms: Monthly base rent payable in advance on the first day of each month starting on the Commencement Date; security deposit of $50,000 due on or before delivery of the Premises; customary defaults, representations and covenants included. The full Sublease is filed as Exhibit 10.1 to the 8-K (certain portions redacted).

Why It Matters

• This agreement creates a multi-year occupancy commitment and predictable monthly cash outflows (initially about $38.1k/month plus a proportional share of operating expenses), and requires a $50k security deposit. Investors should note the cash and operating obligations that will begin once the Commencement Date conditions are met.
• The Sublease is conditional on master landlord consent; if consent is not obtained within 60 days, the parties may terminate the agreement, so the lease’s ultimate effectiveness and timing are not guaranteed until that consent and delivery occur.