EUACCDaily Pulse #10 · 22 Jun 2026
Europe's best-funded quantum hardware company is about to go public, and it is doing it on Nasdaq. A shareholder vote on 25 June would take Finland's IQM to a US exchange, with only a secondary listing back home in Helsinki.
⚛️DEEP TECH
Europe's quantum champion picks Nasdaq
On 25 June, shareholders of Real Asset Acquisition Corp (Nasdaq: RAAQ) vote on its merger with IQM, the Espoo-based maker of full-stack superconducting quantum computers. The SEC has already declared the deal's registration effective. Approval would take IQM public at an initial equity value near $1.8 billion, trading as IQMX.
The combination injects up to $465 million of liquidity: a roughly $175 million SPAC trust, an upsized $146 million PIPE, and IQM's own cash. With 18 quantum systems already installed on customer premises, IQM would become the first European quantum hardware company on a major US exchange.
🌍WHY IT MATTERS
Built in Europe, listed in New York
The tell is the venue. IQM's primary listing is Nasdaq; the Helsinki listing is only a planned secondary, after the New York debut. Europe's flagship quantum firm is raising its public-market capital where the deep, specialist investor base actually sits, and that is still the US.
For a deep-tech founder, the lesson is the one Brussels keeps trying to close. Grants and pilot lines build the company, but the late-stage and public-market money to scale it leans American. Until Europe's exchanges and growth funds deepen, plan a financing and exit path that treats a US venue as the default, not the exception.
Get it every Monday
Free · 5 min read · Unsubscribe anytime
← All 5 issuesEUACC · Get funded. Build Europe.