IQM Quantum Computers, the Espoo-based global leader in full-stack superconducting quantum computers, will go public in the United States. IQM and Real Asset Acquisition Corp. (Nasdaq: RAAQ), a special purpose acquisition company, have completed a business combination agreement that will result in IQM becoming a publicly listed company. The listing will make IQM the first European quantum company to go public.
IQM will list American Depositary Shares on one of the two major US stock exchanges. In addition, IQM is also exploring a dual listing that would allow ordinary shares to be traded on the Helsinki Stock Exchange.
The transaction values IQM at around $1.8 billion, and IQM will receive approximately $330 million in new funding in connection with the listing. The transaction will speed up IQM's technology and business toward fault-tolerant quantum computing.
IQM is a Finnish quantum computing company founded in 2018 that develops and builds full-stack, open-architecture quantum computers and delivers them to customers on-site or sells them through the company's cloud offering. The company follows a vertically integrated business model. IQM combines its own chip design tools and software platform with a quantum chip fabrication facility, assembly operations, and a data centre. This integrated strategy helps IQM accelerate innovation cycles, deliver the highest-quality quantum solutions to customers, and support the growth of the quantum ecosystem.
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