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IQM Quantum (NASDAQ: IQMX) debuts ADSs, warrants and Helsinki listing after SPAC

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

IQM Quantum Computers completed its business combination with SPAC Real Asset Acquisition Corp., creating a publicly traded structure and securing a dual listing path in the U.S. and Finland. The deal included issuing 14,381,747 existing IQM shares as consideration to RAAQ shareholders in the form of American depositary shares.

Concurrently, IQM completed a PIPE investment of 14,548,000 existing shares at USD 10.00 per share, for aggregate gross proceeds of EUR 127.7 million (USD 145.5 million). In total, IQM received net proceeds of approximately EUR 198.7 million (USD 233.5 million), supporting its quantum computing growth plans. IQM’s ADSs and warrants begin trading on Nasdaq on July 2, 2026, while its ordinary shares are expected to start trading on Nasdaq Helsinki on or about July 3, 2026. Following the transaction, the Board of Directors expanded to seven members, with Juho Sarvikas and Jeff Tuder joining.

Positive

  • Transformative capital raise and listings: IQM completed a SPAC business combination and concurrent PIPE, securing approximately EUR 198.7 million (USD 233.5 million) in net proceeds and obtaining Nasdaq and expected Nasdaq Helsinki listings to support its quantum computing growth strategy.

Negative

  • None.

Insights

IQM uses a SPAC merger and PIPE to raise substantial capital and gain U.S. and Finnish listings.

IQM Quantum Computers completed its business combination with SPAC Real Asset Acquisition Corp., issuing 14,381,747 shares as consideration through American depositary shares. This structure moves IQM into the public markets while preserving its existing corporate platform.

The company also closed a PIPE financing of 14,548,000 shares at USD 10.00 per share, generating aggregate proceeds of EUR 127.7 million (USD 145.5 million). Including remaining SPAC trust funds, total net proceeds reached about EUR 198.7 million (USD 233.5 million), materially strengthening the balance sheet for quantum computing expansion.

IQM’s ADSs and warrants start trading on Nasdaq on July 2, 2026, with ordinary shares expected on Nasdaq Helsinki on or about July 3, 2026. These listings broaden access to global investors while newly appointed directors Juho Sarvikas and Jeff Tuder add governance depth after the transaction.

Business combination consideration shares 14,381,747 shares Issued as consideration to RAAQ shareholders via ADSs at closing
PIPE investment shares 14,548,000 shares Existing shares issued in private placement to institutional and accredited investors
PIPE subscription price USD 10.00 per share Price per share for PIPE Investment
PIPE gross proceeds EUR 127.7 million (USD 145.5 million) Aggregate purchase price from PIPE Investment
Total net proceeds EUR 198.7 million (USD 233.5 million) Net proceeds from Business Combination and PIPE, including remaining SPAC trust funds
Warrant exercise price USD 11.50 per share Exercise price for each IQM Warrant to purchase one share represented by one ADS
Maximum warrant shares 12,530,975 shares Maximum new or existing shares subscribable with IQM Warrants
Business Combination financial
"IQM Quantum Computers Plc has on February 22, 2026 entered into a definitive business combination agreement..."
A business combination happens when two or more companies join together to operate as one, like two friends merging their teams into a single group. This is important because it can change how companies grow, compete, and make money, often making them bigger and more powerful in the market.
special purpose acquisition company financial
"Real Asset Acquisition Corp. ("RAAQ"), a Nasdaq-listed special purpose acquisition company..."
A special purpose acquisition company (SPAC) is a company formed with the sole purpose of raising money through a public offering to buy or merge with an existing private business. It acts like a vehicle that allows private companies to go public more quickly and with less complexity. For investors, it offers an opportunity to invest early in a potential acquisition, though it also carries risks if the intended deal doesn’t materialize.
American depositary shares financial
"The RAAQ shareholders will receive the consideration in the form of American depositary shares (the "ADSs")..."
American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.
PIPE Investment financial
"issued 14,548,000 existing shares held by IQM in a private placement... (the "PIPE Investment")..."
A pipe investment is a private sale of stock or convertible securities made directly to selected investors by a company that is already publicly traded, allowing the company to raise cash quickly without a full public offering. It matters to investors because it can dilute existing share value and change ownership stakes, but also signals that the company secured financing; like a homeowner taking a quick private loan to cover a repair, it can be a sign of needed funds or investor confidence.
listing prospectus financial
"The Financial Supervisory Authority today approved IQM Quantum Computers Plc’s English-language listing prospectus..."
regulated market financial
"in connection with the listing of the Company’s shares on the regulated market of Nasdaq Helsinki Ltd..."
A regulated market is an organized trading venue overseen by government or independent authorities that enforces rules on who can list, what information must be published, and how trades are executed. Think of it like a store that must pass safety inspections and display clear labels: the oversight promotes honesty, regular reporting, and fair access, which helps investors compare options, find buyers and sellers, and reduces the risk of fraud or hidden problems.
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FAQ

What major transaction did IQM Quantum Computers (IQMX) complete?
IQM completed a business combination with SPAC Real Asset Acquisition Corp., issuing 14,381,747 shares as consideration via American depositary shares. This de-SPAC transaction transitions IQM into a publicly traded company structure and underpins new U.S. and Finnish stock exchange listings.

How much capital did IQM Quantum Computers (IQMX) raise through the PIPE and SPAC deal?
IQM raised substantial funding, receiving net proceeds of approximately EUR 198.7 million (USD 233.5 million) from the business combination and PIPE. The PIPE alone involved 14,548,000 existing shares at USD 10.00 per share, for aggregate gross proceeds of EUR 127.7 million (USD 145.5 million).

When do IQM Quantum Computers (IQMX) ADSs and warrants begin trading on Nasdaq?
IQM’s American depositary shares are scheduled to start trading on the Nasdaq Global Select Market on July 2, 2026 under the symbol “IQMX”. Warrants to purchase one share per ADS, with a USD 11.50 exercise price, begin trading the same day under the symbol “IQMX WS”.

What is the exercise price and share coverage of IQM Quantum Computers (IQMX) warrants?
The IQM warrants carry an exercise price of USD 11.50 per share, each warrant representing the right to purchase one IQM share via an ADS. A maximum of 12,530,975 new or existing shares may be subscribed using these warrants, replicating the prior RAAQ warrant terms.

When will IQM Quantum Computers (IQMX) shares start trading on Nasdaq Helsinki?
IQM filed a listing application with Nasdaq Helsinki, and its English-language prospectus was approved by the Financial Supervisory Authority. Trading in the company’s ordinary shares is expected to commence on the regulated market of Nasdaq Helsinki on or about July 3, 2026, pending exchange approval.

What board changes occurred at IQM Quantum Computers (IQMX) after the business combination?
Upon completion of the business combination with Real Asset Acquisition Corp., Juho Sarvikas and Jeff Tuder commenced their terms on IQM’s Board of Directors. The board now consists of seven members, including Chair Sierk Pötting and directors Alex Doll, Jan Goetz, Hannu Martola, and Barbara Venneman.
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the Month of July 2026

Commission File Number: 001-43383

 

 

IQM Quantum Computers Oyj

(Translation of registrant’s name into English)

 

 

Keilaranta 19

FI-02150 Espoo

Finland

(Address of Principal Executive Office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

☒ Form 20-F   ☐ Form 40-F

 

 
 

INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

On July 1, 2026, IQM Quantum Computers Oyj (the “Company”) issued, via stock exchange releases made with Nasdaq Helsinki Ltd. (“Nasdaq Helsinki”), announcements regarding (i) the completion of the Company’s previously announced business combination (the “Business Combination”) with Real Asset Acquisition Corp. and concurrent private placement of ordinary shares and American Depositary Shares (“ADSs”) to certain institutional and other accredited investors, and the expected commencement of trading in ADSs of the Company on the Nasdaq Stock Market LLC on July 2, 2026; (ii) the approval by Nasdaq Helsinki of the Company’s English-language listing prospectus and the expected commencement of trading in ordinary shares of the Company on Nasdaq Helsinki on July 3, 2026; and (iii) the appointment of Juho Sarvikas and Jeff Tuder to the Company’s Board of Directors following completion of the Business Combination. The stock exchange releases are attached hereto as Exhibits 99.1, 99.2 and 99.3, respectively.

EXHIBIT INDEX

 

Exhibit
No.		   

Description

99.1    Stock Exchange Release, dated July 1, 2026.
99.2    Stock Exchange Release, dated July 1, 2026.
99.3    Stock Exchange Release, dated July 1, 2026.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

   

IQM QUANTUM COMPUTERS OYJ

Date: July 1, 2026     By:   /s/ Jan Goetz
      Name:   Jan Goetz
      Title:   Chief Executive Officer

Exhibit 99.1

IQM Quantum Computers Plc

Other information disclosed according to

the rules of the Exchange

 

IQM Quantum Computers and Real Asset Acquisition Corp. complete the combination; trading in IQM’s ADSs and IQM Warrants on Nasdaq Stock Market LLC commences on July 2, 2026

IQM Quantum Computers Plc, Stock Exchange Release, July 1, 2026 at 12:15 (EEST)

IQM Quantum Computers Plc (“IQM”) has on February 22, 2026 entered into a definitive business combination agreement (the “Business Combination Agreement”) with Real Asset Acquisition Corp. (“RAAQ”), a Nasdaq-listed special purpose acquisition company, pursuant to which RAAQ would merge with and into IQM US LLC, an indirect wholly-owned subsidiary of IQM (the “Merger Sub”), with Merger Sub surviving the merger as an indirect wholly-owned subsidiary of IQM (the “Business Combination”). On June 25, 2026, the extraordinary general meeting of RAAQ was held, at which the RAAQ shareholders approved the Business Combination and the merger by the requisite votes. Since the conditions precedent of the Business Combination have been met, IQM and RAAQ have today completed the Business Combination and the merger has become effective, thereby consummating the Business Combination Agreement.

The Board of Directors of IQM, as authorized by the unanimous shareholder resolution of February 27, 2026, has issued 14,381,747 existing shares held by IQM as consideration in the Business Combination to the RAAQ shareholders. The RAAQ shareholders will receive the consideration in the form of American depositary shares (the “ADSs”) issued by BNY (NYSE: BNY), a global financial services company, acting as depositary bank for the purpose of issuing and distributing the ADSs, with each ADS representing one share in IQM. Trading in ADSs will commence on the Global Select Market of the Nasdaq Stock Market LLC (“Nasdaq”) on July 2, 2026 under the trading symbol “IQMX”.

The warrants issued by RAAQ were assumed by IQM and became warrants to purchase one share in IQM represented by one ADS (each, an “IQM Warrant”) at an exercise price of USD 11.50 per share, on substantially the same terms and conditions as were applicable to the corresponding warrant issued by RAAQ prior to the consummation of the Business Combination. A maximum of 12,530,975 new or existing shares may be subscribed for with the IQM Warrants. Trading in IQM Warrants will commence on Nasdaq on July 2, 2026, under the trading symbol “IQMX WS”.

Concurrently with the Business Combination, the Board of Directors of IQM, as authorized by the unanimous shareholder resolution of February 27, 2026, has issued 14,548,000 existing shares held by IQM in a private placement to institutional and other accredited investors (the “PIPE Investment”) at a subscription price of USD 10.00 per share, for an aggregate purchase price of EUR 127.7 million (USD 145.5 million). The subscription price is based on the subscription agreements between the PIPE Investors and IQM.

In total, IQM received net proceeds of approximately EUR 198.7 million (USD 233.5 million) in the Business Combination and PIPE Investment, taking into account the remaining funds in RAAQ’s trust account.

The closing marks a significant milestone for IQM as it advances its mission to accelerate the commercialization and adoption of quantum computing worldwide. Since its founding in 2018, IQM has become one of the leading providers of full-stack superconducting quantum systems, serving enterprises, research institutions, universities, high-performance computing centers, and national laboratories across Europe, North America, and Asia.

Jan Goetz, Chief Executive Officer and Co-Founder, IQM, said: “We founded IQM with the conviction that quantum computing would become a foundational technology for nations, scientific institutions, and industry. Today, quantum computing is increasingly being viewed as strategic infrastructure, and customers around the world are investing accordingly. This transaction strengthens our ability to execute on our long-term vision, expand our global presence, and continue delivering the full-stack quantum systems that are helping define the next era of computing.”

Peter Ort, Principal Executive Officer and Co-Chairman of RAAQ, said: “IQM has distinguished itself through its technological leadership, global customer footprint, and proven ability to deliver quantum systems into production environments. We are proud to have partnered with the team on this transaction and look forward to supporting the Company’s continued growth as a public company.”

 

1

IQM Quantum Computers Plc

Other information disclosed according to

the rules of the Exchange

 

Advisors

J.P. Morgan SE is serving as financial advisor and capital markets advisor to IQM. J.P. Morgan Securities LLC and TD Cowen are serving as PIPE placement agents to IQM. Rothschild & Co is serving as financial advisor and capital markets advisor to IQM and its Board of Directors. TD Cowen is serving as financial advisor and capital markets advisor to RAAQ. Cohen & Company Capital Markets is serving as a capital markets advisor to RAAQ. Cooley LLP, Borenius Attorneys Ltd, Mourant Ozannes LLP and Loyens & Loeff N.V. are serving as legal advisors to IQM, and Ashurst Perkins Coie US LLP, Krogerus Attorneys Ltd and Conyers Dill & Pearman LLP are serving as legal advisors to RAAQ. DLA Piper LLP (US) is serving as legal advisor to J.P. Morgan Securities LLC and TD Cowen. The Blueshirt Group is serving as investor relations advisor to IQM.

For further information, please contact:

Blair Robertson, Vice President, Strategy & Corporate Development

Investor Relations Officer

Investors@iqm.tech

About IQM Quantum Computers

IQM Quantum Computers is a global leader in superconducting quantum computing, delivering full-stack quantum systems and cloud platform access to enterprises, research institutions, high-performance computing centers, and national laboratories worldwide. IQM’s open and modular architecture enables customers to own, control, and integrate quantum systems directly into their workflows. Founded in 2018 and headquartered in Espoo, Finland, with major operations in Munich, Germany, it has over 400 employees globally and one of the industry’s strongest track records in deployed quantum systems across Europe, Asia, and North America.

 

2

Exhibit 99.2

IQM Quantum Computers Plc

Prospectus/Announcement of Prospectus

The Financial Supervisory Authority has approved IQM Quantum Computers Plc’s English-language listing prospectus

IQM Quantum Computers Plc, Stock Exchange Release, July 1, 2026 at 15:55 (EEST)

The Financial Supervisory Authority today approved IQM Quantum Computers Plc’s (“IQM” or the “Company”) English-language listing prospectus in connection with the listing of the Company’s shares on the regulated market of Nasdaq Helsinki Ltd (“Nasdaq Helsinki”).

The English-language listing prospectus is expected to be available on or about July 1, 2026 on IQM’s investor relations website at https://investors.iqm.tech/.

The Company filed a listing application with Nasdaq Helsinki to list the Company’s shares (the “Shares”) on the regulated market of Nasdaq Helsinki on June 29, 2026. Trading in the Shares is expected to commence on the regulated market of Nasdaq Helsinki on or about July 3, 2026, provided that Nasdaq Helsinki approves the Company’s listing application.

For further information, please contact:

Blair Robertson, Vice President, Strategy & Corporate Development

Investor Relations Officer

Investors@iqm.tech

About IQM Quantum Computers

IQM Quantum Computers is a global leader in superconducting quantum computing, delivering full-stack quantum systems and cloud platform access to enterprises, research institutions, high-performance computing centers, and national laboratories worldwide. IQM’s open and modular architecture enables customers to own, control, and integrate quantum systems directly into their workflows. Founded in 2018 and headquartered in Espoo, Finland, with major operations in Munich, Germany, it has over 400 employees globally and one of the industry’s strongest track records in deployed quantum systems across Europe, Asia, and North America.

 

1 (1)

Exhibit 99.3

IQM Quantum Computers Plc 

Changes board/management/auditors 

Changes in the Board of Directors of IQM

IQM Quantum Computers Plc, Stock Exchange Release, July 1, 2026 at 13:35 (EEST)

IQM Quantum Computers Plc (“IQM”) has today completed its business combination with Real Asset Acquisition Corp. (the “Business Combination”). The Business Combination was announced by way of a stock exchange release earlier today.

IQM’s unanimous shareholders on February 27, 2026, conditionally elected Juho Sarvikas and Jeff Tuder to the Board of Directors. The commencement of the terms of office of the persons was subject to the completion of the Business Combination.

As a result of the completion of the Business Combination, Juho Sarvikas and Jeff Tuder have today commenced their terms of office on the Board of Directors of IQM. Following the completion of the Business Combination, the Board of Directors of IQM consists of seven (7) members: Sierk Pötting (Chair of the Board), Alex Doll, Jan Goetz, Hannu Martola, Juho Sarvikas, Jeff Tuder and Barbara Venneman.

For further information, please contact:

Blair Robertson, Vice President, Strategy & Corporate Development

Investor Relations Officer

Investors@iqm.tech

About IQM Quantum Computers

IQM Quantum Computers is a global leader in superconducting quantum computing, delivering full-stack quantum systems and cloud platform access to enterprises, research institutions, high-performance computing centers, and national laboratories worldwide. IQM’s open and modular architecture enables customers to own, control, and integrate quantum systems directly into their workflows. Founded in 2018 and headquartered in Espoo, Finland, with major operations in Munich, Germany, it has over 400 employees globally and one of the industry’s strongest track records in deployed quantum systems across Europe, Asia, and North America.

 

1

Source: View Original Filing on SEC EDGAR

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