IQM Quantum Computers has finalized a business combination with Real Asset Acquisition Corp., transferring ownership through the issuance of 14,381,747 existing shares to RAAQ shareholders. The deal, approved by RAAQ shareholders on June 25, establishes IQM as a publicly traded entity with American Depositary Shares (ADSs) set to trade on the Nasdaq Global Select Market starting July 2 under the symbol “IQMX,” with BNY (NYSE: BNY) serving as the depositary bank. This combination provides IQM with approximately EUR 198.7 million (USD 233.5 million) in net proceeds from the business combination and a private investment, fueling its mission to advance quantum computing. “We founded IQM with the conviction that quantum computing would become a foundational technology for nations, scientific institutions, and industry,” says Jan Goetz, Chief Executive Officer and Co-Founder, IQM.
IQM and Real Asset Acquisition Corp Business Combination
The completion of the business combination has positioned IQM Quantum Computers as a publicly traded entity on the Nasdaq Stock Market, a substantial step in the commercialization of quantum technology. This exchange of shares, finalized after RAAQ shareholders approved the merger on June 25, underscores the scale of the transaction and the confidence placed in IQM’s future prospects. Alongside this, warrants to purchase additional IQM shares, termed IQM Warrants, will also be traded under the symbol “IQMX WS”, potentially allowing for the subscription of up to 12,530,975 new or existing shares. A parallel private investment, known as the PIPE Investment, saw IQM issue 14,548,000 existing shares to institutional investors at a price of USD per share, generating EUR 127.7 million (USD 145.5 million) in additional capital. Combined with the remaining funds held in RAAQ’s trust account, IQM has secured approximately EUR 198.7 million (USD 233.5 million). Peter Ort, Principal Executive Officer and Co-Chairman of RAAQ, added that “IQM has distinguished itself through its technological leadership, global customer footprint, and proven ability to deliver quantum systems into production environments,” highlighting the rationale behind the partnership and anticipated future growth.
We founded IQM with the conviction that quantum computing would become a foundational technology for nations, scientific institutions, and industry.
Jan Goetz, Chief Executive Officer and Co-Founder, IQM
