Research Reports

Key takeaways

Subsidiary Rigetti & Co, LLC subleased approximately 12,543 rentable square feet at 740 Heinz Avenue, Berkeley, from Chinook Therapeutics, Inc.

The sublease term is scheduled to commence on the latest of June 1, 2026, receipt of master landlord consent, or delivery of premises, and expire on November 30, 2029.

Monthly base rent starts at $38,111.91, increasing annually to $41,645.91 in the fourth year, with Subtenant also responsible for 11.19% of taxes, insurance, and operating expenses.

The agreement requires a $50,000 security deposit and is subject to master landlord consent, with either party able to terminate if consent is not obtained within 60 days of the April 17, 2026 effective date.

The sublease includes customary events of default, representations, warranties, and covenants, and the full agreement is filed as Exhibit 10.1.

Full analysis

Rigetti Computing, through its wholly-owned subsidiary Rigetti & Co, LLC, has secured a long-term sublease for office and laboratory space in Berkeley, California, providing operational stability through November 2029. The agreement with Chinook Therapeutics establishes a fixed cost structure with predictable annual rent escalations, starting at $38,111.91 per month and increasing to $41,645.91 by the fourth year, plus a proportionate share of operating expenses. The sublease's effectiveness is contingent upon obtaining consent from the master landlord, Seventh Street Properties VII, LLC, within 60 days of the April 17, 2026 execution date, providing an exit option if this condition is not met. The arrangement includes customary commercial lease provisions and requires a $50,000 security deposit, representing a standard commitment for commercial real estate transactions of this nature.

RGTI · Rigetti Computing, Inc.

Summary

Key takeaways

Full analysis