Trapped Ion Quantum Computer Company Will IPO At Near $2 Billion With a SPAC

IonQ will merge dMY Technology Group III, a Special Purpose Acquisition Company. The deal will close in a few months after a review by the SEC and a shareholder vote. IonQ will be worth an estimated $1993 million after the deal. 64% or $1275 mlllion will be owned by IonQ pre-transaction shareholders.

IonQ is the first and only quantum computer available via the cloud on both Amazon Braket and Microsoft Azure, IonQ has defined what it believes to be the best path forward to scaling quantum computing power. By 2023, IonQ plans to develop modular quantum computers small enough to be networked together, which could pave the way for broad quantum advantage by 2025.

“IonQ’s quantum computers are uniquely positioned to capture a market opportunity of approximately $65 billion by 2030. Quantum computers will create value across thousands of new applications, and IonQ is poised to be the first company able to fully exploit this massive opportunity,” said Niccolo de Masi, CEO of dMY III.

IonQ has a 32 qubit trapped ion quantum computer.

Written by Brian Wang,