Quantum computing company Quantinuum has raised its initial public offering price range to $53 to $55 per share and has expanded its offering to 26.5 million shares.
At the midpoint of the proposed range, the offering could raise about $1.43 billion before underwriting discounts and expenses. Quantinuum plans to list its Class A common stock on the Nasdaq Global Market under the ticker symbol "QNT."
Quantinuum, formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum, develops a full-stack quantum computing platform spanning hardware, software, developer tools and applications.
For the first quarter, Quantinuum reported revenue of $5.2 million and a net loss of $136.6 million, compared with revenue of $19.1 million and a net loss of $30.5 million in the year-earlier period.
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