Quantinuum files $12.7B IPO, aims to raise $1.05B on Nasdaq

Quantinuum, a quantum computing company backed by industrial giant Honeywell, announced terms for its initial public offering on Tuesday, targeting a valuation of up to $12.7 billion. The Broomfield, Colorado-based firm plans to raise as much as $1.05 billion by selling approximately 21.05 million shares priced between $45 and $50 each. The company intends to list on the Nasdaq Global Select Market under the ticker symbol "QNT."

The IPO arrives amid heightened investor interest in strategic technologies and follows a significant federal funding initiative. Just days before the filing, the U.S. Department of Commerce announced letters of intent for over $2 billion in equity investments across nine quantum computing companies and projects. Quantinuum is slated to receive a $100 million grant from this initiative, which is aimed at advancing fault-tolerant quantum computing systems.

Founded in 2021 from the merger of Honeywell Quantum Solutions and Cambridge Quantum, Quantinuum is chaired by Honeywell CEO Vimal Kapur and led by former Intel executive Rajeeb Hazra. The company focuses on developing trapped-ion quantum computers, which use electrically controlled ions as qubits, a...