Quantinuum opened for trading on the Nasdaq on Thursday at $68 per share, marking a 13.3% increase above its initial public offering price of $60. The quantum computing company reached a valuation of $17.63 billion.
The company, now trading under the ticker "QNT," priced its IPO late Wednesday, selling 28 million shares of Class A common stock at $60 per share and raising $1.68 billion.
Quantinuum increased both the size and price range of its offering before the final pricing. The company initially planned to sell 21 million shares at a price range of $45 to $50 per share, then raised the offering to 26.5 million shares with a revised price range of $53 to $55 per share before settling on the final terms.
J.P. Morgan and Morgan Stanley served as joint lead active book-running managers for the offering. Jefferies and Evercore ISI acted as active book-running managers. BofA Securities, UBS Investment Bank, Cantor, Mizuho, Needham & Company, Societe Generale and TD Cowen served as additional joint book-running managers. Craig-Hallum and Rosenblatt acted as co-managers.
Quantinuum operates as a quantum computing company with a full-stack platform. The company maintains its headquarters in Broomfield, Colorado, with additional facilities in the United States, United Kingdom, Germany, Japan, and Singapore. Quantinuum is a spinoff from Honeywell, which retains majority control of the company.
source https://www.investing.com/news/stock-market-news/quantinuum-shares-soar-in-nasdaq-debut-with-valuation-topping-176-billion-4727228
