Quantinuum formed in 2021 raises IPO target to $14.3 billion
Quantinuum, which was formed in 2021 by combining Honeywell's quantum computing division and Cambridge Quantum, just bumped its IPO target up to $14.3 billion.
They're aiming to raise $1.46 billion by selling 26.5 million shares at $53 to $55 each, quite a jump from their earlier plan of raising $1.05 billion with fewer shares at lower prices.
Quantinuum to debut on Nasdaq QNT
Quantum computing is getting a lot of buzz, especially for things like financial modeling and drug discovery, even though the tech still has some hurdles to clear.
Investors are clearly excited: the US government recently unveiled plans to take $2 billion in equity stakes across nine quantum-computing companies, including $100 million for Quantinuum.
The company, formed in 2021 by merging Honeywell's quantum division and Cambridge Quantum, will debut on Nasdaq under the ticker QNT this Thursday, with J.P. Morgan and Morgan Stanley leading the charge.