Quantinuum, a Broomfield, Colorado-based quantum computing company formed from Honeywell’s quantum computing business and Cambridge Quantum, raised US$1.68 billion in its US initial public offering on June 3 after pricing 28 million shares at US$60 each.

That was above its earlier US$53 to US$55 range, and the company will begin trading on Nasdaq under ticker QNT on June 4.

The company sells a full-stack quantum platform that includes trapped-ion computers, software, developer tools, and cybersecurity products such as quantum-generated cryptographic keys.

Before pricing, Quantinuum had targeted a valuation of up to US$14.3 billion, compared with a US$5 billion pre-money private valuation in January 2024. IonQ’s market capitalization in the referenced report was about US$25 billion to US$26 billion.

Honeywell will retain about 48.1% of Quantinuum’s combined voting power after the offering, according to its initial public offering filing.

The deal comes as the US market for new listings regains momentum, though demand remains concentrated in technology and other high-growth sectors.

🔗 Source: Reuters