Finance
IQM Quantum Computers to list shares in US at initial $1.8 billion valuation
Published by Global Banking & Finance Review®
Posted on February 23, 2026
2 min readLast updated: February 23, 2026
Quick Summary
IQM Quantum Computers will go public in the U.S. via a SPAC merger with Real Asset Acquisition at a $1.8B valuation. The deal may close around June 2026, with a possible Helsinki dual listing and RAAQ owning about 10%.
IQM Quantum Computers to Go Public in U.S. at $1.8 Billion Value
By Sudip Kar-Gupta and Anne Kauranen
SPAC Deal Overview
BRUSSELS, HELSINKI, Feb 23 (Reuters) - Finnish-headquartered IQM Quantum Computers is aiming to list its shares on the U.S. stock market via a merger with a special purpose acquisition company Real Asset Acquisition Corp, the companies said on Monday.
Merger Details and Timeline
The transaction will give the European company an initial equity valuation of around $1.8 billion, IQM said.
Valuation and Ownership
Quantum computers, which are much faster than conventional computers, are seen as crucial for cybersecurity, attracting funding from such tech giants as Microsoft, Alphabet, IBM and Cisco as well as interest from several governments.
Investors and Backers
In October, quantum computing stocks on Wall Street jumped following a Wall Street Journal report that the U.S. administration was considering taking stakes in such companies in exchange for federal funding.
IQM Not Involved in U.S. Stake Plan
Government Investment Programs
Security and Government Interest
IQM CEO Jan Goetz said the company, whose investors include Finnish and German governments' investment funds as well as the European Commission's European Innovation Council, was not involved in any projects aiming at U.S. federal funding.
SPACs Explained
Instead, the deal, which he expects to close around June, would attract additional capital, greater visibility, and potentially help generate more business, he told Reuters.
Helsinki Listing and Headquarters
Dual use in security and defence, including code breaking, is what drives governments' high interest in quantum computing, Goetz said.
"If you have a large enough quantum computer, you can break current encryption in some years," he said.
Special purpose acquisition companies (SPACs) - which made a comeback last year after a prolonged lull - operate as shell companies that raise money in an initial public offering, to later merge with privately held firms and take them public.
Real Asset Acquisition will control roughly 10% of the company, which intends to keep its headquarters in Finland, Goetz said.
The company, which describes itself as a "global commercial leader", also plans to list in Helsinki to become the first listed European quantum computing company.
(Reporting by Sudip Kar-Gupta in Brussels and Anne Kauranen in Helsinki; Editing by Muralikumar Anantharaman and Tomasz Janowski)
Key Takeaways
- •IQM Quantum Computers will list in the U.S. through a merger with SPAC Real Asset Acquisition Corp.
- •The deal implies an initial equity valuation of about $1.8 billion for IQM.
- •CEO Jan Goetz says the company is not seeking U.S. federal funding under current programs.
- •Closing is expected around June 2026, pending approvals.
- •IQM plans a potential dual listing in Helsinki; RAAQ would hold roughly 10% post‑merger.
Frequently Asked Questions about IQM Quantum Computers to list shares in US at initial $1.8 billion valuation
1What is the main topic?
IQM Quantum Computers plans to list in the U.S. by merging with SPAC Real Asset Acquisition Corp at an initial equity valuation of about $1.8 billion, with closing targeted around June 2026.
2Who are the parties involved in the deal?
The merger is between IQM Finland Oy (IQM Quantum Computers) and Real Asset Acquisition Corp (RAAQ), a special purpose acquisition company that is expected to hold roughly 10% after closing.
3Why is this significant for investors and the industry?
Quantum computing is seen as crucial for cybersecurity and national security. IQM’s U.S. listing could bring capital, visibility, and commercial momentum, while a Helsinki dual listing would broaden its European investor base.
