IQM Quantum Computers to list shares in US via SPAC deal with Real Asset Acquisition Corp

Reuters
1 hour ago
IQM <a href="https://laohu8.com/S/QMCO">Quantum</a> Computers to list shares in US via SPAC deal with <a href="https://laohu8.com/S/RAAQ">Real Asset Acquisition Corp</a>

BRUSSELS, Feb 23 (Reuters) - Finnish-headquartered company IQM Quantum Computers is aiming to list its shares in the U.S. stock market via a merger with special purpose acquisition company Real Asset Acquisition Corp RAAQ.O, the companies said on Monday.

The transaction will give IQM Quantum Computers an initial equity valuation of around $1.8 billion.

Quantum computers are much faster than conventional computers. The technology is seen as crucial for cybersecurity and the sector has major funding from tech giants such as Microsoft MSFT.O, Alphabet GOOGL.O, IBM IBM.N and Cisco CSCO.O.

Special purpose acquisition companies (SPACs) - which made a comeback last year after a prolonged lull - operate as shell companies that raise money in an initial public offering, to later merge with privately held firms and take them public.

IQM Quantum Computers added it was also considering listing its shares on the Helsinki stock exchange.

"Going public is not a change of direction but is rather an acceleration," said IQM Chairman Sierk Poetting in a statement.

(Reporting by Sudip Kar-Gupta; Editing by Muralikumar Anantharaman)

((sudip.kargupta@thomsonreuters.com;))

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