Quantum Computing Leader Eyes Public Markets
IQM Finland Oy, a leader in superconducting quantum computers, has filed a registration statement on Form F-4 with the U.S. Securities and Exchange Commission. This move is a step towards its Nasdaq listing, aiming to become the first European quantum computing company to be publicly listed.
The filing, announced on 14th May, is part of a proposed business combination with Real Asset Acquisition Corp., a special purpose acquisition company. The transaction values IQM at approximately USD 1.8 billion pre-money equity.
IQM has delivered 15 systems and constructed over 30 quantum computers, including a dedicated chip factory, assembly line, and quantum data centre. Its significant business momentum is reflected in 2025 revenue figures of USD 36 million.
Global commercial leader IQM has sold 23 systems to customers, including four out of the top ten supercomputing centres. This demonstrates increasing adoption by enterprise customers.
Path to Nasdaq Helsinki
Following the business combination, IQM plans to list its shares on Nasdaq Helsinki under the ticker symbol 'IQMX'. The company's cash position is expected to reach EUR 397 million upon transaction completion.
Jan Goetz, CEO and Co-Founder of IQM, said, "This filing is a milestone we have worked hard to reach, and it signals our readiness to operate at a new level."
Real Asset Acquisition Corp's Peter Ort expressed pride in the partnership, stating, "We look forward to completing this transaction and supporting the company’s vision for the future of quantum computing."
The completion of the proposed business combination is subject to shareholder approval from both IQM and RAAQ, along with other customary closing conditions. IQM intends to apply for its shares to be admitted to trading on Nasdaq Helsinki following the Business Combination.
The Registration Statement, while not yet declared effective, contains key information about RAAQ and its securities, IQM's financials, technology, and growth strategy. These details highlight the terms and conditions of the proposed business combination.
