Quantinuum, a Honeywell-backed quantum computing IPO, drawing huge interest despite big risks (QNT)
Briefing.com Summary:
Quantinuum (QNT) is scheduled to launch its IPO tomorrow morning on the Nasdaq under ticker QNT, with the company offering 26.5 mln shares at a price range of $53-$55 per share after upsizing the deal from 21.05 mln shares and a $45-$50 range. At the high end, the offering implies a target valuation of up to $14.3 bln and gross proceeds of roughly $1.46 bln.
Unlike many quantum-computing listings that came public as thinly capitalized SPAC stories, QNT carries a more established industrial pedigree. It was formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum, and Honeywell (HON) is expected to retain 48.1% of the combined voting power after the IPO.