Quantinuum, a quantum computing company spun off from Honeywell International, filed registration papers with the SEC on May 26 to raise as much as $1.05 billion in an initial public offering (IPO) [1, 2, 3].
The firm plans to sell approximately 21 million shares at a proposed price range of $45 to $50 per share, putting its valuation between $12.7 billion and $13 billion. The $12.7 billion figure is most commonly cited [2, 4, 3].
Quantinuum focuses on vertically integrated quantum computing platforms and aims to develop fault-tolerant, commercial-scale quantum computers by the end of this decade. CEO Rajeeb Hazra said, "公司正在執行一項路線圖，目標是在本十年結束前推出首台商業規模、完全容錯的量子計算機Apollo系統" [3]. This refers to the planned Apollo system.
Earlier this month, on May 21, the Trump administration announced over $2 billion in funding to several quantum computing companies, including a $100 million award to Quantinuum under its quantum computing support program [2, 4].
The company’s early users and partners include Amgen and Mitsui & Co. [3]. The IPO proceeds will help advance Quantinuum’s development of quantum computing technologies and expand commercial applications.
Quantinuum’s IPO filing marks a major step toward going public and arriving at a market valuation in the multibillion-dollar quantum computing sector. The company has set the price range and number of shares to be issued, with final pricing and timing pending market conditions.
The next key event will be the pricing of the IPO shares and setting a public offering date, which has not yet been announced [1, 2, 3].
