# 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.
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## Public content

**issue:** 10
**type:** pulse
**date range:** 22 Jun 2026
**tagline:** 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.
**published at:** 2026-06-22
**sections:** 
  -     **body:** 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.
    **emoji:** ⚛️
    **label:** DEEP TECH
    **heading:** Europe's quantum champion picks Nasdaq
  -     **body:** 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.
    **emoji:** 🌍
    **label:** WHY IT MATTERS
    **heading:** Built in Europe, listed in New York

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