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Honeywell's Quantinuum Moves Closer to Public Markets with US ...
Quantinuum said the offering size and price range are not yet set, and the deal remains subject to market conditions and SEC effectiveness.
On Friday, Honeywell-owned Quantinuum publicly filed a registration statement on Form S-1 with the Securities and Exchange Commission, initiating a proposed initial public offering of its Class A common stock.
Majority-Owned by Honeywell, the Broomfield, Colorado-based company builds quantum computers capable of solving complex problems that would take classical systems thousands of years, backed by over $2 billion in research and development investment.
Quantinuum raised about $600 million last year from investors including Nvidia's venture capital arm at a $10 billion pre-money valuation, joining a rebounding IPO market that has recovered in recent weeks.
The company intends to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol "QNT," with J.P. Morgan and Morgan Stanley acting as joint lead active book-running managers.
CEO Rajeeb Hazra said "customer deployments across commercial enterprises and governments already point to the scale of the opportunity ahead," noting the technology has potential to be as impactful as artificial intelligence.