Mentioned:
QNT -0.78% HON -0.57%
There’s officially a new quantum computing company on Wall Street. And they just raised more than a billion and a half dollars.
What’s happening:
- Quantinuum (NASDAQ: QNT) has successfully raised $1.6B USD in their IPO financing round and begun trading on the Nasdaq
By the numbers:
- Quantinuum issued roughly 28M common shares at a price of $60.00 USD per share as part of their IPO financing, which was significantly above their initial IPO pricing of between $45.00 and $50.00 USD per share
Why it matters:
- Quantinuum was originally formed by merging Honeywell’s (NASDAQ: HON) quantum computing hardware business with their acquisition of United Kingdom based quantum computing company Cambridge Quantum
Going deeper:
- Quantinuum has developed proprietary quantum computing hardware focused on trapped-ion processors using a quantum charge-coupled device architecture to deliver high-fidelity, highly connected connected systems as well as a full-stack software platform that has applications for materials science, cybersecurity and quantum chemistry
- Many large publicly traded companies and venture capital funds previously invested into Quantinuum’s private financing rounds including Nvidia (NASDAQ: NVDA), Airbus, BMW, HSBC and Mitsui as well as Korea Investment Partners and Quanta Computer
