IQM Quantum Computers (IQM) has begun trading on the Nasdaq under the ticker symbol IQMX, making it the fifth quantum company to list this year, after Infleqtion, Xanadu, Horizon Quantum, and Quantinuum. IQM, which is headquartered in Finland, is also the first European computing company listed on a major U.S. stock exchange.
Unlike SEEQC, which plans to go public via an IPO, IQM took the route of an SPAC merger with Real Asset Acquisition Corp. (“RAAQ”).
The company’s American Depositary Shares begin trading today on the Nasdaq Global Select Market. Due to the proceeds of the transaction, IQM maintains a pro forma cash position of EUR 337 million (app US$386 million).
IQM develops supercomputing quantum computers, and has sold 23 quantum computers worldwide. Its customers CINECA in Italy, the Leibniz Supercomputing Center (LRZ) in Germany, and the Department of Energy’s Oak Ridge National Laboratory (ORNL) in the United States, and Toyo Corporation in Japan. The company operates on what it calls its Production Quantum model, which is full-stack, open-architecture systems that customers own, operate, and build on.
“Quantum computing is reaching an inflection point. Around the world, organizations are moving from exploration to implementation, investing in quantum infrastructure and building the capabilities that will define the next generation of computing,” said Jan Goetz, CEO and Co-Founder of IQM Quantum Computers. “IQM enters the public markets from a position of strength, with leading technology, a growing global customer base, and a clear strategy for scaling the commercial adoption of quantum computing. We are excited to begin this next chapter as a public company.”
