Mentioned:
Honeywell’s quantum computing company is preparing to make their Wall Street debut. And they’re planning to raise a billion dollars.
What’s happening:
- Quantinuum has publicly stated they are planning to raise roughly $1.05B USD in their IPO financing round and become a publicly traded company on the Nasdaq
By the numbers:
- Quantinuum will issue approximately 21M new common shares in the IPO financing round at a price between $45.00 USD and $50.00 USD per share
- Honeywell (NASDAQ: HON) will own approximately 50% of Quantinuum following the successful closing of their IPO financing round
Why it matters:
- Quantinuum was initially formed by merging Honeywell’s quantum computing hardware business with their acquisition of United Kingdom based quantum computing company Cambridge Quantum
Going deeper:
- Quantinuum has developed proprietary quantum computing hardware focused on trapped-ion processors and has also developed a full-stack software platform for applications in materials science, cybersecurity and quantum chemistry
- Multiple large companies are using Quantinuum’s hardware including Airbus, BMW, HSBC and Mitsui
- J.P. Morgan and Morgan Stanley are leading the IPO financing round for Quantinuum
The intrigue:
- Nvidia (NASDAQ: NVDA) previously made waves when they led a $600M USD funding round for Quantinuum alongside of Korea Investment Partners and Quanta Computer
