Quantinuum started trading on the Nasdaq on Thursday, opening at $68 per share - a 13.3% increase from its IPO price of $60. At that opening price the quantum computing company reached a valuation of $17.63 billion and began trading under the symbol QNT.
The company completed an initial public offering late Wednesday, selling 28 million shares of Class A common stock at $60 each and raising $1.68 billion in gross proceeds. Quantinuum adjusted both the quantity and the proposed price range of its offering ahead of the final pricing.
Originally, the company planned to sell 21 million shares with an indicated range of $45 to $50 per share. That plan was revised to a larger sale of 26.5 million shares and a narrowed price range of $53 to $55 per share before the underwriters and company settled on the final terms of 28 million shares at $60 per share.
Investment banks that managed the deal included:
- J.P. Morgan and Morgan Stanley - joint lead active book-running managers
- Jefferies and Evercore ISI - active book-running managers
- BofA Securities, UBS Investment Bank, Cantor, Mizuho, Needham & Company, Societe Generale and TD Cowen - additional joint book-running managers
- Craig-Hallum and Rosenblatt - co-managers
Quantinuum describes its business as a full-stack quantum computing company. The firm is headquartered in Broomfield, Colorado, and maintains facilities in the United States, United Kingdom, Germany, Japan and Singapore. It was spun out from Honeywell, which retains majority control of Quantinuum.
Market data displayed alongside the offering noted Honeywell ticker movement at -2.33% and indicated QNT's intraday move at +11.48% in the context of the listing. The IPO itself generated $1.68 billion in proceeds from the Class A sale at the $60 price point.
This listing follows a sequence of offering adjustments - both in share count and pricing range - culminating in the final terms that produced the reported valuation and inflows from the sale of 28 million shares.
Context for markets and sectors: The transaction and subsequent trading close a capital markets event for a quantum computing company with international operations. It will be observed by investors tracking technology, computing infrastructure and capital markets activity tied to high-growth hardware and software firms.