Quantinuum, a quantum computer developer being carved out of Honeywell, announced terms for its IPO on Tuesday.
The Broomfield, CO-based company plans to raise $1.0 billion by offering 21.1 million shares at a price range of $45 to $50. At the midpoint of the proposed range, Quantinuum would command a fully diluted market value of $12.2 billion.
Quantinuum develops quantum computing systems and software with the goal of commercializing quantum technology for enterprise and government applications. The company operates on the premise that future computing will be hybrid in nature, combining classical processors, GPU-based accelerated compute, and quantum processing units to tackle problems that conventional systems cannot efficiently solve. Its work spans hardware development and software, targeting use cases in fields such as artificial intelligence, cybersecurity, drug discovery, and materials science.
Quantinuum was founded in 2021 and booked $36 million in revenue for the 12 months ended March 31, 2026. It plans to list on the Nasdaq under the symbol QNT. J.P. Morgan, Morgan Stanley, Jefferies, Evercore ISI, BofA Securities, UBS Investment Bank, Cantor Fitzgerald, Mizuho Securities, Needham & Co., Societe Generale, and TD Cowen are the joint bookrunners on the deal. It is expected to price the week of June 1, 2026.
