Quantinuum Debuts on Nasdaq with Strong Opening
Quantinuum began trading on the Nasdaq on Thursday at $68 per share, representing a 13.3% rise above its initial public offering (IPO) price of $60. The quantum computing firm achieved a valuation of $17.63 billion on its market debut.
IPO Details and Share Offering
Trading under the ticker “QNT,” Quantinuum priced its IPO late Wednesday, selling 28 million shares of Class A common stock at $60 per share. The offering raised approximately $1.68 billion for the company.
Adjustments to IPO Size and Pricing
Prior to the final pricing, Quantinuum increased both the size and price range of its offering. The company initially planned to sell 21 million shares at a range of $45 to $50 per share. This was later revised to 26.5 million shares with a price range of $53 to $55 before settling on the final terms.
Investment Bank Participation
J.P. Morgan and Morgan Stanley acted as joint lead active book-running managers for the IPO. Jefferies and Evercore ISI also served as active book-running managers. Additional joint book-running managers included BofA Securities, UBS Investment Bank, Cantor, Mizuho, Needham & Company, Societe Generale, and TD Cowen. Craig-Hallum and Rosenblatt acted as co-managers for the offering.
About Quantinuum
Quantinuum is a quantum computing company offering a full-stack platform. Headquartered in Broomfield, Colorado, the company operates additional facilities in the United States, United Kingdom, Germany, Japan, and Singapore. The firm is a spinoff from Honeywell, which retains majority control of the company.
