Quantum News Nexus

Finland’s IQM Quantum Computers has become the latest quantum technology company to announce it is targeting a public stock market listing through a merger with a special purpose acquisition company (SPAC).

IQM revealed that it plans to merge with SPAC Real Asset Acquisition Corp. (Nasdaq: RAAQ) in a deal that values IQM at roughly $1.8 billion, and that is expected to result in about $450 million in gross proceeds after the business combination is completed. IQM said its will be listed on “one of the two leading US stock exchanges,” and is considering a dual listing, with the second being on the Helsinki stock exchange and likely to come after the initial deal and stock listing is done.

IQM’s announcement comes just one week after Infleqtion became the latest quantum firm to make its public stock debut via a SPAC merger.

IQM, which is building superconducting quantum computers, announced $320 million in funding last fall, and more recently confirmed co-founder Jan Goetz as its CEO going forward after a period during which the Espoo company was led by co-CEOs. The firm also has been a key partner of Nvidia.

Quantum News Nexus is a site from freelance writer and editor Dan O’Shea that covers quantum computing, quantum sensing, quantum networking, quantum-safe security, and more. You can find him on X @QuantumNewsGuy and doshea14@gmail.com.