Tech

IQM to go public via SPAC at $1.8B valuation

IQM Quantum Computers plans an IPO via SPAC with Real Asset Acquisition Corp, aiming for a New York primary listing and a $1.8 billion equity valuation. The deal is contingent on shareholder approvals and regulators, with a June 2026 closing target and a possible dual listing on the Helsinki exchange.

📅 February 23, 2026
⏱️ 2 min read
IQM to go public via SPAC at $1.8B valuation

Key Takeaways

  • IQM plans an IPO via SPAC with Real Asset Acquisition Corp (RAAQ), targeting a New York primary listing at a $1.8 billion equity valuation.
  • Deal hinges on shareholder approvals and regulatory clearances, with closing expected around June 2026.
  • A dual listing on the Helsinki stock exchange is being explored as a secondary option.
  • IQM has deployed 21 quantum systems to 13 customers and reported unaudited 2025 revenue of at least $35 million (unverified).
  • Ten Eleven Ventures and Tesi are investors in IQM (per reports).

People Involved

  • No specific individuals mentioned

Entities Involved

  • IQM Quantum Computers European open-architecture quantum hardware provider
  • Real Asset Acquisition Corp (RAAQ) SPAC sponsor and merger vehicle
  • Helsinki Stock Exchange (Nasdaq Helsinki) Potential secondary listing venue
  • New York Stock Exchange (NYSE) Primary listing venue in the SPAC deal

MarketMoodz Analysis

For investors, IQM’s SPAC-driven listing would unlock liquidity and place a European quantum hardware company on public markets at a roughly $1.8 billion enterprise value, a meaningful milestone for a sector that has drawn outsized private funding. Yet the path is not guaranteed: redemptions, shareholder approvals, and regulator sign-offs can compress the timeline and affect the final price.

Historically, quantum startups have relied on private rounds and strategic partnerships before pursuing public listings. The SPAC route can accelerate liquidity but often carries redemption risk and valuation volatility as investors await disclosures and quarterly progress. Watch IQM’s order book, customer deployments, and any regulatory filings or prospectus details to gauge a real public-market trajectory.

Source: Original Article

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