IQM Quantum Computers to go public via SPAC merger with Real Asset Acquisition Corp
By Global Infrastructure Sherpa · Feb 23, 2026
IQM Quantum Computers has announced plans to go public via a Special Purpose Acquisition Company (SPAC) merger with Nasdaq-listed Real Asset Acquisition Corp. The transaction provides IQM with a pre-money valuation of $1.8 billion.
Deal Analysis
IQM Quantum Computers' announced plan to go public through a SPAC merger with Real Asset Acquisition Corp. represents a significant step for the quantum computing company. The transaction, valuing IQM at a pre-money valuation of $1.8 billion, aims to provide the company with the capital necessary to further develop and commercialize its quantum computing technology. This move signals increasing investor interest in the quantum computing sector and its potential for future growth.
The deal is notable for its size, reflecting the substantial investment required to advance quantum computing capabilities. IQM, based in Finland, is positioning itself to compete in the global quantum computing market. The SPAC merger with Real Asset Acquisition Corp., a Nasdaq-listed entity, provides IQM with access to public markets and increased visibility. The success of this transaction could pave the way for other quantum computing companies to pursue similar strategies for raising capital and accelerating their development.
- IQM Quantum Computers to go public via SPAC merger with Real Asset Acquisition Corp.
- Pre-money valuation of $1.8 billion for IQM.
- Transaction provides IQM with capital for further development and commercialization.
- IQM is a Finland-based quantum computing company.
Market Context: The quantum computing sector is an emerging field with significant potential for disruption across various industries. Companies are actively developing and commercializing quantum computing technologies, attracting substantial investment and strategic partnerships. The data center sector is expected to be heavily impacted by quantum computing advancements.
Source Intelligence
KEY DETAILS
Upon closure of the deal, IQM expects to have more than $450 million in cash on its balance sheet, with approximately $175m of that total being held in RAAQ’s trust account, the IQM said in a statement.
The company will also have $134m in proceeds from a PIPE financing deal and an expected $24m from the cash exercise of outstanding IQM warrants prior to the closing.
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Deal Size
Deal values the quantum computing company at $1.8 billion
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Location
Founded in Helsinki, Finland, in 2018, IQM brings full-stack quantum computers and applications to HPCs, research institutes, universities, and business enterprises.
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Financials
The transaction provides IQM with a pre-money valuation of $1.8 billion
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Announcement
February 23, 2026
PARTIES MENTIONED IN SOURCE
I
IQM Quantum Computers
seller
"IQM Quantum Computers has announced plans to go public via a Special Purpose Acquisition Company (SPAC) merger."
R
Real Asset Acquisition Corp.
buyer
"The deal will see the Finnish quantum computing company merge with Nasdaq-listed Real Asset Acquisition Corp. (RAAQ), a special purpose acquisition company."
high quality
Enriched Feb 23, 2026
Market Context
This deal is part of the Data Center sector in Finland.
1 of 129 Data Center deals tracked this month · Updated daily
Global Infrastructure Sherpa