IQM raised approximately $234 million in gross proceeds from the SPAC deal . A pre-closing PIPE investment from BlackRock funds contributed about $57 million
. Before any shareholder redemptions, the transaction was expected to provide IQM with pro forma cash of up to $477 million
.
At announcement, IQM had a pre-money valuation of approximately $1.8 billion . The implied post-transaction valuation was about $1.9 billion prior to any SPAC shareholder redemptions
. The post-debut market cap (~$302M) is significantly lower than the pre-money SPAC valuation, reflecting redemptions and the stock's first-day decline.
Nasdaq Helsinki approved IQM's listing application on July 2, 2026, and trading in IQM's ordinary shares on the regulated market of Nasdaq Helsinki commenced on July 3, 2026 . This serves as the company's secondary home-market listing alongside its primary Nasdaq listing.
IQM plans to use the raised capital to accelerate commercialization, scale its global operations across Europe, Asia, and North America, and invest in its full-stack superconducting quantum computing platform . The growth strategy includes expanding on-premise quantum computer deployments, scaling cloud services, and capturing leadership in the emerging quantum computing market
.