Quantinuum, a developer of full-stack quantum computing systems and software backed by Honeywell (NASDAQ:HON), raised roughly $1.68 billion in an upsized U.S. initial public offering, the company said on Wednesday.
The Broomfield, Colorado-based firm priced 28 million shares at $60 each, placing the final price above the midpoint of the previously marketed range and producing gross proceeds of about $1.68 billion.
Quantinuum’s stock is expected to begin trading on the Nasdaq Global Market on Thursday under the ticker symbol "QNT." The offering is scheduled to close on June 5.
The company builds integrated quantum computing hardware and software stacks. Honeywell is identified among its principal backers. Quantinuum has positioned itself to take advantage of elevated investor interest in quantum computing, a technology the company and many market participants regard as a potential breakthrough for solving complex problems across several areas, including pharmaceuticals, materials science, and finance.
The IPO was led by J.P. Morgan and Morgan Stanley, with Jefferies and Evercore ISI also serving as active book-running managers.
Context and immediate implications
This transaction represents a significant capital raise for a firm focused on quantum systems and software. By pricing above the midpoint of the marketed range, Quantinuum sold a block of 28 million shares at $60 each, producing roughly $1.68 billion in gross proceeds. The company’s planned Nasdaq listing under the symbol QNT and the scheduled close on June 5 are the next milestones in the process.
What the company does
- Quantinuum develops full-stack quantum computing systems and supporting software.
- Honeywell is listed as a key backer.
- The company aims to address complex problems in industries such as pharmaceuticals, materials science, and finance.
Transaction parties
- Lead book-runners: J.P. Morgan and Morgan Stanley.
- Additional active book-runners: Jefferies and Evercore ISI.
The information provided reflects the company’s statements regarding the offering size, pricing, expected trading symbol, and the scheduled closing date. No additional projections or forward-looking claims are included beyond those facts.