Filed Pursuant to Rule 424(b)(3)
Registration No. 333-263798
PROSPECTUS SUPPLEMENT NO. 1
(To Prospectus dated
June 1, 2022)
UP TO 19,354,059 SHARES OF COMMON STOCK
ISSUABLE UPON EXERCISE OF WARRANTS
UP TO 96,941,181 SHARES OF COMMON STOCK
UP TO 4,450,000 WARRANTS TO PURCHASE COMMON STOCK
This prospectus supplement
supplements the prospectus, dated June 1, 2022 (the Prospectus), which forms a part of our registration statement on Form S-1 (No. 333-263798). This
prospectus supplement is being filed to update and supplement the information in the Prospectus with the information contained in our Current Report on Form 8-K filed with the Securities and Exchange
Commission on July 6, 2022 (the Current Report). Accordingly, we have attached the Current Report to this prospectus supplement.
The
Prospectus and this prospectus supplement relates to the issuance by us of up to an aggregate of 19,354,059 shares of our common stock, $0.0001 par value per share (the common stock) consisting of (i) 4,450,000 shares of common stock
issuable upon the exercise of 4,450,000 warrants (the private placement warrants) originally issued in a private placement in connection with the initial public offering (the IPO) of Supernova Partners Acquisition Company II,
Ltd., a Cayman Islands exempted company (Supernova), by the holders thereof, (ii) 8,624,972 shares of common stock issuable upon the exercise of 8,624,972 warrants (the public warrants and, together with the private placement
warrants, the warrants) originally issued in the IPO by holders thereof, and (iii) 6,279,087 shares of common stock issuable upon the exercise of warrants assumed by us and converted into warrants to purchase common stock (the
Rigetti assumed warrants) in connection with the Business Combination (as defined below). We will receive the proceeds from the exercise of any warrants and any Rigetti assumed warrants for cash.
The Prospectus and this prospectus supplement also relates to the offer and sale from time to time by the selling securityholders named in this prospectus or
their permitted transferees (the selling securityholders) of up to (i) 96,941,181 shares of common stock consisting of (a) 10,251,000 shares of common stock purchased by subscribers at a price of $10.00 per share and 4,390,244 shares of
common stock purchased by subscribers at a price of $10.25 per share in private placements pursuant to separate subscription agreements, (b) 8,625,000 shares of common stock (the Founder Shares) originally purchased by Supernova Partners
II LLC (Supernova Sponsor) for $25,000, or for approximately $0.004 per share, in a private placement in connection with the IPO, including 3,059,273 Founder Shares subject to vesting and forfeiture (the Sponsor Vesting
Shares), (c) 4,450,000 shares of common stock issuable upon exercise of the private placement warrants, (d) 2,446,716 shares of common stock issuable pursuant to the exercise of Rigetti assumed warrants, which Rigetti assumed warrants have a
weighted average exercise price of $0.6628 per share, (e) 6,226,065 shares of common stock issuable upon exercise of outstanding options, which have an exercise price of $0.272 per share, (f) 6,288,369 shares of common stock issuable in connection
with the vesting and settlement of outstanding restricted stock units, which were assumed by and converted into restricted stock awards for common stock in connection with the Business Combination based on an acquiror share value of $10.00 per share
and (g) 54,263,787 shares of common stock issued in connection with the Business Combination as merger consideration at an acquiror share value of $10.00 per share, and (ii) up to 4,450,000 private placement warrants, which were purchased by
Supernova Sponsor at a price of $2.00 per warrant. We will not receive any proceeds from the sale of shares of common stock or warrants by the selling securityholders pursuant to this prospectus.
This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except
in combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement is qualified by reference to the Prospectus, including any amendments or supplements thereto, except to the extent that the information
in this prospectus supplement updates and supersedes the information contained therein.
Our common stock and public warrants are listed on the Nasdaq
Capital Market under the symbols RGTI and RGTIW, respectively. On July 5, 2022, the last reported sales price of our common stock was $4.27 per share and the last reported sales price of our public warrants was $0.65 per
warrant.
We are an emerging growth company as defined under U.S. federal securities laws and, as such, have elected to comply with reduced
public company reporting requirements. This prospectus complies with the requirements that apply to an issuer that is an emerging growth company.
Investing in our securities
involves a high degree of risks. You should review carefully the risks and uncertainties described in the section titled Risk Factors beginning on page 16 of this prospectus, and under similar headings in any amendments or
supplements to this prospectus.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities, or passed upon the
accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.
Prospectus
Supplement dated July 6, 2022.