Finland-based quantum computing startup IQM to go public in US via SPAC

Finland-based quantum computing firm IQM has announced its intention to go public in the United States through a Special Purpose Acquisition Company (SPAC) merger, targeting a valuation of $1.8 billion. This move signifies a significant milestone, potentially making IQM the first European quantum company to be publicly listed on a major US stock exchange, with Nasdaq being a likely venue. The transaction sees IQM, a prominent player in superconducting quantum computers founded in 2018, merging with Real Asset Acquisition Corp (RAAQ). This SPAC route offers a faster and potentially less costly alternative to a traditional Initial Public Offering (IPO). IQM's offering includes both on-premises full-stack quantum computers and a cloud platform for accessing these advanced systems. This public listing on US exchanges is expected to accelerate IQM's growth and further solidify its position in the rapidly evolving quantum computing sector. The deal, which is subject to shareholder approvals, is anticipated to conclude by June of this year. IQM also mentioned the possibility of a subsequent listing on the Helsinki stock exchange, potentially creating dual-market access.