Overview
- IQM will merge with Nasdaq-listed Real Asset Acquisition Corp, with American Depositary Shares expected to trade on a major U.S. exchange.
- The company cites potential proceeds of more than $300 million assuming no redemptions, while other reports project cash available to exceed $450 million including PIPE financing.
- IQM plans to keep its headquarters in Finland and is evaluating a dual listing in Helsinki, with Real Asset Acquisition expected to own roughly 10% after closing.
- The firm reports 21 system sales to 13 customers, at least $35 million in unaudited 2025 revenue, and more than $100 million in booking visibility at year-end 2025.
- IQM builds full-stack superconducting quantum computers for on-premise and cloud use, positioning it among Europe’s earliest public quantum companies as SPAC listings in the sector regain momentum.