Superconducting hardware manufacturer IQM Quantum Computers has finalized its definitive business combination with special purpose acquisition company Real Asset Acquisition Corp. (Nasdaq: RAAQ). The cross-border transaction, structured as a merger into an indirect wholly owned subsidiary with IQM surviving as the parent public entity, was formally executed following shareholder authorization during an extraordinary general meeting on June 25, 2026. Trading of IQM’s American Depositary Shares (ADSs)—with each ADS representing one ordinary share in the hardware firm—and its newly assumed public warrants is scheduled to commence on the Global Select Market of the Nasdaq Stock Market LLC on July 2, 2026, under the primary ticker symbols IQMX and IQMX WS, respectively.

                               [ Net Listing Capital Proceeds ]
RAAQ Escrow & Trust ──► Remaining cash reserves retained in trust following redemption periods.
PIPE Investment    ──► $145.5 Million USD (14.54M shares issued at $10.00 par to accredited funds)
Total Gross Runway  ──► $233.5 Million USD (Combined liquidity injected to accelerate foundry scaling)

To consummate the transaction, the IQM Board of Directors allocated 14,381,747 ordinary shares as direct consideration to the incoming RAAQ public equity holders, distributed via BNY acting as the global depositary bank. Concurrently, the consortium closed an upsized Private Investment in Public Equity (PIPE) financing round, issuing 14,548,000 shares to institutional and accredited backers at a benchmark price of $10.00 per share. Taken together with the remaining assets held inside RAAQ’s escrow trust, the transaction injected approximately $233.5 million USD (€198.7 million) in net capital proceeds into the company’s operating ledger. The newly assumed IQM Warrants carry an ordinary strike price of $11.50 per share, capping a maximum potential expansion of 12,530,975 secondary ordinary shares upon future capital exercises.

The execution of this listing represents a major milestone for the European quantum hardware landscape, converting the Espoo, Finland-headquartered firm into the first publicly traded European quantum computing entity on an American exchange. Under Chief Executive Officer and Co-Founder Jan Goetz, the proceeds will be utilized to expand the commercial distribution of the firm’s open-architecture, full-stack computing units. Managed through major international technical advisory structures—including J.P. Morgan SE and Rothschild & Co—the public capitalization is engineered to scale out IQM’s high-throughput silicon fabrication foundry in Germany and Finland, supporting the deployment of localized quantum processing units directly inside high-performance computing (HPC) nodes, national security testbeds, and corporate data centers.

The official public listing declarations can be audited via the IQM Investor Relations Portal here, and the joint transaction statements can be reviewed in the active IQM newsroom here. Continuous coverage tracking this transaction is available across the Quantum Computing Report by GQI archives, spanning the initial merger announcement here, the Form F-4 milestone entry here, the SEC effectiveness declaration here, and the recent Ilmarinen upsized PIPE funding round here.

July 1, 2026

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