IQM Quantum Computers has today (July 2) begun trading on the Nasdaq following the completion of its Special Purpose Acquisition Company (SPAC) merger with Real Asset Acquisition Corp. (RAAQ).

In a statement, IQM said the merger was officially approved by RAAQ shareholders on June 25. IQM’s American Depositary Shares (ADSs) will be listed under the IQMX ticker, while IQM Warrants will be listed under IQMX WS.

ADSs are shares of a foreign company that are traded on US exchanges, while warrants give individuals the right to buy those shares at a set price in the future.

JP Morgan SE is serving as financial advisor and capital markets advisor to IQM, with TD Cowen serving as financial advisor and capital markets advisor to RAAQ and Cohen & Company Capital Markets serving as a capital markets advisor.

IQM announced plans to go public via a SPAC merger with RAAQ in February 2026. At the time, the company said the transaction would provide it with a pre-money valuation of $1.8bn, while the listing would see it become the first publicly traded European quantum company.

“We founded IQM with the conviction that quantum computing would become a foundational technology for nations, scientific institutions, and industry,” said Jan Goetz, CEO and co-founder of IQM. “Today, quantum computing is increasingly being viewed as strategic infrastructure, and customers around the world are investing accordingly. This transaction strengthens our ability to execute on our long-term vision, expand our global presence, and continue delivering the full-stack quantum systems that are helping define the next era of computing.”

Peter Ort, principal executive officer and co-chairman of RAAQ, said: “IQM has distinguished itself through its technological leadership, global customer footprint, and proven ability to deliver quantum systems into production environments. We are proud to have partnered with the team on this transaction and look forward to supporting the Company’s continued growth as a public company.”

Founded in Helsinki, Finland, in 2018, IQM brings full-stack quantum computers and applications to HPCs, research institutes, universities, and business enterprises. The company operates quantum data centers in Finland and Munich, Germany, offering cloud-based access to its systems. It has delivered quantum systems to supercomputing centers in South Korea, Poland, Italy, and Taiwan.

The company says it has sold 21 systems to 13 customers to date and has manufactured a total of 30 systems.

Rival quantum computing firms D-Wave, Rigetti, IonQ, Infleqtion, and Quantinuum have all gone public via SPAC mergers, while Xanadu Quantum is in the process of doing so.