The return is higher than the $1.5bn that was estimated when the quantum company filed for its IPO a little more than three weeks ago.
Quantum computing company Quantinuum has raised $1.68bn in its US initial public offering (IPO), with 28m class A common stock shares to begin trading for $60 each on the Nasdaq Global Market today (4 June).
The return is higher than was estimated after the US company filed for its IPO a little more than three weeks ago, when reports suggested that an offering could raise more than $1.5bn for the Honeywell International-backed Quantinuum and value it at as much as $20bn.
Bloomberg reported that the offering, which was increased from an anticipated 26.5m shares and priced above its marketed range of between $53 and $55 per share, values the company at $15.6bn.
Quantinuum said it had granted underwriters a 30-day option to purchase up to an additional 4.2m shares of its class A common stock “to cover over-allotments at the initial public offering price, less underwriting discounts and commissions”. JP Morgan and Morgan Stanley are acting as “joint lead active book-running managers” for the IPO.
