Quantum computing company Quantumuum plans to raise approximately $1.05 billion in its US IPO.

CoinFeed reported on May 26th that, according to Bloomberg, quantum computing company Quantinuum plans to issue approximately 21 million shares in its US IPO, priced between $45 and $50 per share, aiming to raise approximately $1.05 billion. At the upper end of the range, its valuation is estimated at approximately $12.7 billion. Quantinuum was formed in 2021 through the merger of Honeywell Quantum Solutions and Cambridge Quantum. It focuses on developing quantum computing platforms applicable to chemistry, machine learning, cybersecurity, finance, and drug discovery, and currently has partners such as Amgen and Mitsui. The company's first-quarter revenue was approximately $5.2 million, with a net loss of approximately $137 million.