IQM to List on Nasdaq via RAAQ SPAC at $1.9 Billion Valuation
Updated
Updated · TradingView · Jun 23
IQM to List on Nasdaq via RAAQ SPAC at $1.9 Billion Valuation
3 articles · Updated · TradingView · Jun 23
Summary
$1.9 billion is the implied valuation for IQM Quantum Computers in its planned merger with SPAC RAAQ, with RAAQ shareholders set to vote on June 25 and IQM ADSs due to trade on Nasdaq as IQMX after closing.
Up to $477 million in pro forma cash and a $146 million upsized PIPE are meant to fund the debut, though final cash depends on how many RAAQ shareholders redeem.
IQM is pitching existing commercial traction rather than pure research potential: it says it has sold 23 quantum computers, delivered 18 globally and generated about $36 million in 2025 revenue.
$77 million in backlog and customers including four of the world's top 10 supercomputing centers underpin IQM's case that quantum computing is moving into paid deployment.
The listing comes as investors look beyond AI toward quantum computing, a market McKinsey estimates could create up to $2.7 trillion in economic value by 2035.