RAAQ: 15-12G · acquisition merger
Real Asset Acquisition Corp. has filed a Form 15 to terminate its registration and suspend its duty to file reports with the SEC. This action follows the completion of its business combination with IQM Quantum Computers Oyj, which became effective on July 1, 2026. As a result of the transaction, Real Asset Acquisition Corp. merged with and into IQM US LLC, a wholly owned subsidiary of IQM Quantum Computers. The company certified that it has approximately 0 holders of record as of the filing date, reflecting the completion of the merger process. Jan Goetz, President and Chief Executive Officer, signed the certification on July 13, 2026, on behalf of the company.
RAAQ: 8-K · acquisition merger
Real Asset Acquisition Corp. (RAAQ) has completed its business combination with IQM Quantum Computers Oyj, closing the transaction on July 1, 2026. As a result of the merger, IQM Quantum Computers is the surviving entity, and RAAQ has ceased to exist. The combined company's American Depositary Shares (ADSs) and warrants began trading on the Nasdaq under the symbols “IQMX” and “IQMX WS”, respectively, on July 2, 2026. Concurrent with the closing, IQM raised approximately $145 million through a private investment in public equity (PIPE) at a price of $10.00 per ADS. Pre-closing shareholders of IQM retained 84.7% ownership of the company, while PIPE investors hold 7.7%, and former RAAQ shareholders hold the remainder. The transaction included sponsor forfeitures to support the deal. The former RAAQ securities (Class A Ordinary Shares, Public Warrants, and Units) were delisted from Nasdaq, and trading was suspended prior to the market open on July 2, 2026. RAAQ intends to file a Form 15 to deregister these securities. The company also entered into registration rights agreements to facilitate the resale of shares held by insiders and investors.
IQM Quantum Computers Becomes First European Quantum Computing Company Listed on a Major U.S. Exchange
Real Asset Acquisition Corp. (RAAQ) has completed its business combination with IQM Quantum Computers, marking the latter's debut as the first European quantum computing company listed on a major U.S. exchange. IQM’s American Depositary Shares begin trading today on the Nasdaq Global Select Market under the new ticker symbol IQMX, replacing RAAQ. The company enters the public markets with a pro forma cash position of EUR 337 million and a track record of selling 23 quantum computers worldwide, more than any other manufacturer.
RAAQ: 25-NSE · delisting
Real Asset Acquisition Corp. has filed Form 25-NSE, notifying the SEC of the withdrawal of the registration of all its securities on a national securities exchange. This filing triggers the immediate delisting of the company's shares, effectively removing them from major stock exchanges. For a SPAC, this typically indicates that the company failed to complete a business combination within the required timeframe and is proceeding with liquidation, returning cash to shareholders rather than merging with a target.
IQM Named a Major Player in the IDC MarketScape: Worldwide Quantum Computing 2026 Vendor Assessment
IQM Quantum Computers was named a 'Major Player' in the IDC MarketScape: Worldwide Quantum Computing 2026 Vendor Assessment. The report highlights IQM's 'Production Quantum' model, which focuses on on-premises, full-stack superconducting systems that customers own and operate, rather than cloud-based access. IDC advises institutions requiring on-premises infrastructure and incremental capability building to consider IQM, noting the portability of workflows and IP developed on its hardware. IQM is preparing to become the first publicly listed European quantum company on Nasdaq via its merger with Real Asset Acquisition Corp. (RAAQ).
IQM achieves milestone in quantum error correction, enabling fault-tolerant computing in the near-term
IQM announced a breakthrough in quantum error correction with directional tile codes, reducing qubit overhead by up to 1,000 times compared to current standards. The research, co-authored with academic partners, leverages existing IQM Crystal processors to lower error rates significantly on a hardware footprint of around 30 physical qubits per logical qubit. This milestone supports IQM's roadmap for fault-tolerant computing by 2030 and one million qubit scaling, advancing its pending Nasdaq listing via merger with RAAQ.
IQM Named Among Quantum Collaborators in HPE's New Hybrid Quantum-HPC Platform
IQM Quantum Computers, the proposed merger target of RAAQ, was named a collaborator in Hewlett Packard Enterprise's new hybrid classical-quantum computing platform. The collaboration will integrate IQM's superconducting quantum processors with HPE's Cray supercomputers, marking a significant validation of the target's technology ahead of its Nasdaq listing. IQM has sold 23 quantum systems globally and recently announced an upsized PIPE of over USD 146 million to support its expansion.
RAAQ: 8-K · leadership change
Real Asset Acquisition Corp.'s business combination partner, IQM Quantum Computers, has appointed Dr. Craig Ciesla as its new Chief Technology Officer and Dr. Inés de Vega as Chief Scientist. Ciesla brings over 25 years of experience from roles at Illumina and 10x Genomics, while de Vega transitions from her previous position as Vice President of Quantum Solutions. The appointments come as IQM prepares for its planned Nasdaq listing through the merger with Real Asset Acquisition Corp. The transaction recently gained momentum with the closing of an upsized $146 million PIPE investment in early June, which included participation from Finnish pension insurer Ilmarinen. IQM positions itself as a global leader in superconducting quantum computers, having sold 23 systems to date. The company emphasizes a vertically integrated model with its own chip factory and a workforce of over 400 employees across Europe, Asia, and North America.
IQM Appoints Craig Ciesla, Former Illumina VP, as CTO; Inés de Vega Becomes Chief Scientist
IQM Quantum Computers appointed Craig Ciesla as CTO and Inés de Vega as Chief Scientist. Ciesla previously served as Vice President of Engineering at 10x Genomics and held leadership roles at Illumina, Intel, and Lumentum. The appointments support IQM's preparation for a Nasdaq listing via merger with Real Asset Acquisition Corp. (RAAQ), which recently secured a $146 million PIPE.
New Industry Study Finds Quantum Computing Has Entered a Capability Era, With Early Movers Building an Advantage Later Entrants Will Struggle to Close
IQM Quantum Computers, the merger target of RAAQ, released the 'State of Quantum 2026' report claiming 19% market share of tracked quantum computing contracts from 2021 to Q1 2026. The report highlights a surge in sector investment to $8.3 billion in 2025, nearly five times the prior year, driven by genuine procurement rather than speculation. According to the study, 89% of enterprises are now hands-on with quantum, but only 3% have reached scaled deployment, creating a 'capability era' where early movers like IQM assert a structural advantage.
IQM and Real Asset Acquisition Corp. Host Inaugural Capital Markets Day for Investors and Analysts
IQM and Real Asset Acquisition Corp. hosted their inaugural Capital Markets Day at the Nasdaq MarketSite, with a presentation now available on demand detailing IQM's growth strategy and technology roadmap. Management highlighted IQM's commercial momentum, noting the company has sold 23 quantum computers to date and employs over 400 people, during a panel that included leaders from NVIDIA, AWS, and Cambium Ventures. The proposed business combination remains on track for a mid-2026 closing, with plans to list IQM's American Depositary Shares on the Nasdaq Global Market under the ticker 'IQMX'.
IQM Deploys Its First U.S. Quantum Computer at Oak Ridge National Laboratory
IQM Quantum Computers, the target of RAAQ, deployed its first U.S. quantum computer at Oak Ridge National Laboratory. The 20-qubit IQM Radiance system, named Pathfinder, is now operational at the home of Frontier, the world's most powerful supercomputer. IQM has sold 23 full-stack systems worldwide, and this deployment validates its on-premise model ahead of its planned Nasdaq listing via RAAQ.
IQM Appoints Barbara Venneman, Vanguard Board Director and Former Global Head of Deloitte Digital, to its Board of Directors
IQM Quantum Computers appointed Barbara Venneman, a Vanguard board director and former Global Head of Deloitte Digital, to its Board of Directors. Venneman brings over 30 years of experience in digital transformation, AI, and enterprise technology commercialization, strengthening the board’s expertise as IQM prepares for its public listing. The appointment coincides with news that IQM has secured an upsized $146 million PIPE and that its F-4 registration statement for the merger with Real Asset Acquisition Corp. (RAAQ) has been declared effective by the SEC.
IQM Quantum Computer Goes Live at Supercomputing Center CINECA in Italy, Boosting National Compute Infrastructure and Research
IQM Announces Novel Quantum Error Correction Approach Toward Fault-Tolerant Quantum Computing
IQM Quantum Computers announced the development of 'barbell codes,' a novel quantum error-correcting approach that achieves up to three orders of magnitude lower logical error rates than the surface code. The technology reduces hardware complexity by requiring up to eight times fewer physical qubits and leverages IQM's Constellation topology for enhanced connectivity. IQM, which is set to merge with Real Asset Acquisition Corp. (RAAQ), plans to deploy 150-qubit systems later this year as it advances toward fault-tolerant quantum computing.
IQM and Real Asset Acquisition Corp. Announce Effectiveness of Registration Statement for Proposed Business Combination
The SEC declared the F-4 registration statement for the proposed business combination between IQM and Real Asset Acquisition Corp. effective on June 5, 2026. This regulatory clearance allows the Extraordinary General Meeting of RAAQ shareholders to proceed on June 25, 2026, to vote on the merger. Upon completion, IQM will become a public company listed on Nasdaq under the ticker symbol IQMX, having reported 2025 revenue of EUR 31 million.
RAAQ: DEFM14A · acquisition merger
Real Asset Acquisition Corp. (RAAQ) has filed a definitive proxy statement/prospectus (DEFM14A) for its proposed business combination with IQM Finland Oy, a quantum computing company. The transaction involves RAAQ merging with a subsidiary of IQM, resulting in IQM becoming a publicly traded company on Nasdaq under the ticker symbol IQMX. The deal values IQM at approximately $1.8 billion and includes a $146 million private investment in public equity (PIPE) from institutional investors at $10.00 per share. RAAQ shareholders will be able to redeem their shares for approximately $10.41 per share from the trust account or exchange them for IQM ADSs. The RAAQ board unanimously recommends the transaction, which is subject to shareholder approval at an extraordinary general meeting scheduled for June 25, 2026. Upon closing, RAAQ's securities will be delisted, and existing RAAQ shares and warrants will be converted into IQM ADSs and IQM Warrants, respectively. The transaction includes significant lock-up provisions for insiders and PIPE investors, with 70% of insider shares locked for one year or until the stock price exceeds $12.00 for 20 trading days within a 30-day period.
IQM, a Global Leader in Quantum Computing, and Real Asset Acquisition Corp. Announce Upsized USD 146 million PIPE with New Commitment from Ilmarinen
Real Asset Acquisition Corp. (RAAQ) announced an upsized PIPE financing of $146 million for its proposed merger with quantum computing firm IQM, adding a new commitment from Ilmarinen, a major Finnish pension insurer. The transaction values IQM at a $1.8 billion pre-money equity valuation and brings total cash resources to approximately $477 million, assuming no redemptions from RAAQ public shareholders. IQM reported 2025 revenue of €31 million ($36 million), highlighting operational momentum with active customer deployments and a vertically integrated business model for superconducting quantum computers.
Poland’s Poznan University of Technology Unveils IQM Quantum Computer to Drive Research and Education
Poznan University of Technology has installed an IQM Radiance R1 quantum computer, marking the second operational quantum system deployed by IQM in Poland. This deployment validates IQM’s on-premises ownership model, allowing the university to build internal expertise and intellectual property rather than relying on cloud-only access. IQM, which has sold 23 systems globally, is in the process of merging with Real Asset Acquisition Corp (RAAQ) to list on Nasdaq, with an F-4 registration statement recently filed.
RAAQ: 10-Q · periodic report
Real Asset Acquisition Corp. (RAAQ) reported net income of $1.22 million for the three months ended March 31, 2026, driven primarily by $1.46 million in earnings on marketable securities held in its trust account. The company holds $178.6 million in the trust account and $838,494 in operating cash, with no operating revenues generated to date as it remains a pre-deal SPAC. The filing confirms the business combination agreement signed on February 22, 2026, with IQM Finland Oy, a quantum computing company. The transaction is expected to close in the third quarter of 2026 and is supported by a $134 million PIPE investment from institutional and accredited investors at $10.00 per ADS. Management disclosed substantial doubt about the company’s ability to continue as a going concern, a standard disclosure for SPACs that face mandatory liquidation if a business combination is not completed by January 30, 2027. The filing includes standard certifications from CEO Peter Ort and CFO Jeff Tuder regarding the accuracy of the financial statements.
Real Asset Acquisition Corp. (RAAQ) and IQM Finland Oy announced the public filing of a Form F-4 registration statement with the SEC, marking a critical step toward completing their business combination. This filing confirms that IQM will become a publicly traded company, aiming to be the first European quantum computing firm to list on a U.S. exchange. The transaction values IQM at a pre-money equity valuation of approximately $1.8 billion. Upon closing, IQM expects to access roughly $465 million in total cash, comprising $175 million from RAAQ’s trust account, $134 million from a PIPE financing at $10.00 per share, $24 million from warrant exercises, and $172 million in existing cash. IQM reported 2025 revenue of $36 million and has sold 23 quantum systems to date, including deployments at four of the top 10 supercomputing centers. The company intends to list its American Depositary Shares on the Nasdaq Global Exchange under the ticker symbol “IQMX” and also plans to apply for admission to trading on Nasdaq Helsinki.
First Enterprise Quantum Computer Purchase in Japan: IQM to Deploy System to TOYO Corporation
IQM Quantum Computers, the pending merger target of RAAQ, announced the first enterprise quantum computer sale in Japan to TOYO Corporation. The 20-qubit Radiance system is set for on-premises and cloud deployment by the end of 2026, marking IQM's third installation in the Asia-Pacific region. TOYO intends to leverage the system to support Japanese enterprises and integrate quantum capabilities with high-performance computing infrastructure. This deployment aligns with Japan's national strategy to achieve 10 million quantum users and 50 trillion yen in production value by 2030. IQM's CEO emphasized that the deal reflects a shift toward enterprises owning and operating their own quantum hardware to build real capabilities.
