Exclusive-Honeywell's Quantinuum Raises $1.68 Billion in US IPO as Quantum Computing Heats up, Source Says
The company raised $1.68 billion after increasing its share count amid strong demand for quantum computing stocks.
- On Wednesday, Honeywell International-backed Quantinuum raised $1.68 billion in its initial public offering, pricing 28 million shares at $60 each. The Colorado-based quantum company begins trading on the Nasdaq today under the ticker "QNT."
- Formed in 2021 through the merger of Honeywell's quantum division and Cambridge Quantum, the firm retains strong backing from its founders. Honeywell and Cambridge Quantum Holdings will hold roughly 82% of the equity between them post-offering.
- Valued at $15.6 billion, the Broomfield, Colorado-based Quantinuum saw investor demand drive the share count up to 28 million, surpassing initial expectations. This exceeded the originally planned 26.5 million shares.
- Analysts at Wedbush said the listing "improves price discovery" and "draws sellside and institutional coverage" to the quantum sector. Quantinuum ranks as the second most valuable publicly traded quantum company behind IonQ.
- The company recently secured a share of $2 billion in federal incentives under the CHIPS and Science Act to develop trapped-ion systems. Quantinuum continues serving clients including Airbus and JPMorgan Chase as it scales commercial operations.
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19 Articles
Quantinuum prices its IPO at $1.68bn, setting a new bar for quantum
The marketed range was $53 to $55. Quantinuum priced at $60. That gap, the willingness of investors to pay above what the bankers asked, is the real news in the Honeywell-backed company’s initial public offering, which raised $1.68bn and set a valuation the entire quantum-computing sector will now be measured against. The mechanics are straightforward. […] This story continues at The Next Web
Honeywell's Quantinuum Just Raised $1.68 Billion — Now Valued at $15.6 Billion on $30.9 Million Revenue
Honeywell's quantum computing subsidiary Quantinuum raised £1.25 billion ($1.68 billion) in its US initial public offering on Wednesday, pricing 28 million shares at £44.55 ($60) each, and securing what is now the largest public listing ever completed by a dedicated quantum computing company. The final price came in above the marketed range of $53 to $55 per share, and the share count was upsized from the 26.5 million originally offered, Reuters…
Honeywell's Quantinuum raises $1.68 billion in US IPO as quantum computing heats up
The listing is the latest test of investor appetite for quantum computing companies, as breakthroughs in the technology spur bets that quantum machines could eventually outperform conventional computers on certain complex tasks.
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