IQM announces to be listed on US stock market

Finnish quantum computing firm IQM on Monday announced that the company would be listed on the US stock market, said the company in a press release.

The company entered into a definitive business combination agreement, which will result in IQM becoming a public company and listing American Depositary Shares on one of the two leading U.S. stock exchanges.

The transaction provides funding with the aim to accelerate IQM’s technology and commercial development towards fault-tolerance quantum computing, further advancing its position as a leading provider of quantum computers.

IQM is also considering a dual listing that would see the trading of IQM’s ordinary shares on the Helsinki stock exchange, which would be expected to take place following the completion of this transaction.

IQM is a quantum computing company that builds full stack, open-architecture systems that can be deployed on-premise or accessed via the cloud.

Following completion of the transaction, IQM’s cash on its balance sheet is expected to be in excess of USD 450 million cash at closing4 (including IQM’s existing cash), providing runway for continued broad commercial advantage.

The transaction values IQM at a pre-money equity valuation of approximately USD 1.8 billion.

“We built IQM from the beginning for one purpose — to put working quantum computers in the hands of the people who will use them to solve real problems. Not someday. Now. Quantum computing is a science project no more. It is an industry where customers own, operate, and build on advanced quantum computers. That’s what IQM makes possible,” said Jan Goetz, Co-Founder and Chief Executive Officer of IQM in the press release.