IQM Quantum Computers made its Nasdaq debut on Wednesday, closing its first day of trading at $6.64 under the ticker IQMX. The stock touched close to its 52-week high of $7.02 during the session.
The listing comes after IQM completed its business combination with Real Asset Acquisition Corp., a SPAC deal that handed the company a pro forma cash position of around €337 million. Net proceeds from the deal and a private investment came in at approximately $233.5 million.
IQM is a Finland-based, full-stack superconducting quantum computing company, founded in 2018. It employs over 400 people and has operations across Europe, Asia, and North America.
The company’s Nasdaq debut marks a first — IQM is now the first European quantum computing company to list on a major U.S. stock exchange. That’s a milestone worth noting in a sector increasingly eyeing public markets for capital.
IQM has sold 23 quantum computers to customers worldwide, including research institutions, universities, supercomputing centers, and national laboratories. Its systems are deployed at Italy’s CINECA, Germany’s Leibniz Supercomputing Center, and the U.S. Department of Energy’s Oak Ridge National Laboratory.
“IQM enters the public markets from a position of strength, with leading technology, a growing global customer base, and a clear strategy for scaling the commercial adoption of quantum computing,” said CEO and Co-Founder Jan Goetz.
InvestingPro gives the company a “Fair” financial health score, with more detailed profitability metrics available to subscribers.
The same day IQM listed, another quantum-adjacent SPAC made its move. Quantum Leap Acquisition Corp. (QLEP) completed a $230 million IPO, selling 23 million units at $10 each.
QLEP has not yet named an acquisition target, but its mandate covers AI, quantum computing, and blockchain. Its Class A stock and warrants now trade separately on the NYSE under QLEP and QLEP WS.
On the partnerships front, IonQ (IONQ) signed a three-year agreement with Australian quantum firm Archer Materials (AXE). Archer will pay IonQ $1.5 million over the initial term for access to IonQ’s Forte-class and future Tempo-class systems, plus simulators and advisory services.
The two companies will also look at deploying a physical IonQ quantum computer on Australian soil, targeting use cases in defense, AI, mining, healthcare, and research.
Elsewhere, BTQ Technologies received final French regulatory approval to acquire QPerfect, adding its MIMIQ quantum emulator and digital twin tools to BTQ’s quantum-safe security stack. The approval came with commitments to preserve QPerfect’s French operations and intellectual property.
In China, Shanghai launched a quantum computing industrial hub in its Xuhui district, with 26 founding companies and up to 100 million yuan (~$14.73 million) in available funding for research and innovation.
IQM stock closed Wednesday at $6.64, with its 52-week high sitting at $7.02.
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