The proposed combination aims to accelerate growth in quantum technology and expand access to public capital markets.
IQM Finland Oy, a global leader in full-stack superconducting quantum computers, and Real Asset Acquisition Corp. (Nasdaq: RAAQ), a special purpose acquisition company (SPAC), have announced that they will host an investor conference call to discuss their recently announced proposed business combination. The call will provide additional details regarding the strategic rationale for the transaction, key highlights of the agreement, and the long-term growth vision for the combined public company.
As previously disclosed, on February 23, 2026, IQM and RAAQ entered into a definitive business combination agreement that is expected to result in IQM becoming a publicly traded company. Upon completion of the transaction, IQM’s American Depositary Shares (ADSs) are expected to be listed on one of the two major U.S. stock exchanges, providing the company with broader access to international capital markets and enhanced visibility among global institutional investors.
The proposed transaction marks a significant milestone in IQM’s corporate evolution. By transitioning to the public markets, IQM aims to secure additional capital to accelerate the development and commercialization of its quantum computing technologies. The funding is expected to support the company’s roadmap toward fault-tolerant quantum computing—an essential breakthrough that would enable quantum systems to perform large-scale, reliable computations beyond the capabilities of classical supercomputers.
In addition to the planned U.S. listing, IQM is also considering a dual-listing strategy. Under this approach, the company’s common shares could trade on the Helsinki Stock Exchange following the closing of the transaction. Such a dual listing would reinforce IQM’s strong European roots while expanding its presence in U.S. capital markets. Headquartered in Finland, IQM has become one of Europe’s most prominent quantum technology companies, and maintaining a listing in Helsinki would reflect its commitment to the regional innovation ecosystem and investor community.
IQM has built its reputation as a pioneer in superconducting quantum computing by developing full-stack, open-architecture systems designed for both on-premise deployment and cloud-based access. Unlike companies that focus solely on quantum hardware or software, IQM operates a vertically integrated business model that spans the entire quantum technology stack. This includes proprietary chip design tools, a robust software developer platform, quantum processor manufacturing facilities, system assembly lines, and dedicated data centers.
This vertically integrated approach enables IQM to tightly control quality, accelerate product development cycles, and optimize performance across hardware and software layers. By integrating each stage of the value chain, IQM can iterate more rapidly on its quantum processors and system architectures, reducing development time while improving reliability and scalability. This end-to-end capability also provides customers with comprehensive access to quantum computing resources, from physical hardware to application-level tools.
IQM’s customer base includes major high-performance computing (HPC) centers, leading research institutes, universities, and enterprises that require direct access to quantum hardware and low-level software interfaces. Many of these organizations seek to explore quantum algorithms in materials science, cryptography, optimization, artificial intelligence, and pharmaceutical research. IQM’s open-architecture philosophy supports this research-driven community by allowing deeper customization and experimentation compared to closed, proprietary systems.
With more than 300 employees worldwide, IQM has established a strong international footprint. In addition to its headquarters in Finland, the company operates across multiple regions, including France, Germany, Italy, Japan, Poland, Saudi Arabia, Spain, Singapore, South Korea, Taiwan, the United Kingdom, and the United States. This global presence positions IQM to serve customers in key technology markets while collaborating with governments and research institutions advancing national quantum strategies.
The proposed merger with RAAQ is intended to further strengthen IQM’s competitive position in the rapidly evolving quantum computing industry. Quantum computing has increasingly moved from theoretical research toward practical deployment, with governments and enterprises investing heavily in infrastructure and talent. However, achieving fault-tolerant quantum systems remains a central technical challenge. The capital raised through the business combination is expected to support research and development initiatives aimed at improving qubit coherence, scaling processor architectures, and implementing advanced error correction techniques.
Management from both IQM and RAAQ will outline these priorities during the scheduled investor conference call. The call will include a review of the investor presentation and provide insights into market opportunities, financial projections, and integration plans. Investors interested in learning more about the proposed transaction can access a recording of the call via the company’s investor relations website. Additionally, a recording will be filed by RAAQ with the U.S. Securities and Exchange Commission (SEC), ensuring transparency and regulatory compliance.
RAAQ, headquartered in Princeton, New Jersey, was formed as a SPAC with the purpose of identifying and combining with high-growth companies in advanced industries. The company is listed on Nasdaq under the ticker symbol RAAQ. Its leadership team includes professionals with significant experience in quantum computing and related technologies, positioning the SPAC to evaluate and support complex, innovation-driven businesses such as IQM.
The strategic alignment between IQM and RAAQ is rooted in a shared understanding of the quantum computing landscape and its long-term potential. As global competition intensifies and both public and private sectors prioritize quantum technologies, access to capital markets can play a critical role in accelerating commercialization. By becoming a publicly traded company, IQM aims to enhance its ability to pursue large-scale projects, expand manufacturing capacity, and form strategic partnerships across the quantum ecosystem.
The transaction remains subject to customary closing conditions, including regulatory approvals and shareholder approvals. If successfully completed, it would represent one of the notable public market entries in the European quantum computing sector and underscore growing investor interest in advanced computing technologies.
Overall, the proposed business combination between IQM and RAAQ reflects the next stage in IQM’s growth trajectory. By leveraging public capital markets while maintaining its European foundation, IQM seeks to solidify its role as a leading global provider of superconducting quantum computers and to push forward the development of scalable, fault-tolerant quantum systems that could redefine computational possibilities across industries.
