IQM lists on Nasdaq after SPAC merger, EU quantum firm

Finnish quantum computing company IQM began trading on the Nasdaq Global Select Market on Thursday, July 2, 2026, becoming the first European quantum computing firm to list on a major U.S. stock exchange. The listing followed the completion of its merger with the special purpose acquisition company Real Asset Acquisition Corp. IQM's American Depositary Shares are trading under the ticker symbol IQMX.

The transaction values the company at approximately $1.9 billion and provides it with a pro forma cash position of $337 million, according to the company. The listing raised net capital proceeds of approximately $233.5 million, which includes funds from a private investment in public equity (PIPE) round. The company stated the capital will fund continued research, product development, and international expansion.

IQM shares experienced volatility on their first trading day. After opening at $12.76, the stock fell by about 7.5% in early trading before recovering and moving into positive territory as the session continued. By the close, shares were trading at $12.97, representing a decline of 3.4% from the previous day's closing price for the SPAC but remaining about 30% above the $10...