IonQ Expected to Begin Trading Oct. 1, Gross Proceeds Estimated Over $600 Million

Quantum Wall Street
Quantum Wall Street

IonQ Expected to Begin Trading Oct. 1, Gross Proceeds Estimated Over $600 Million

Quantum Wall Street
Wall Street is set to go quantum with the listing of IonQ on the New York Stock Exchange. (Image: Erik Drost/Wikimedia)

The quantum era — at least the financial side of full-stack quantum computing — will begin in earnest with the public listing of IonQ on the New York Stock Exchange.

According to a press release, dMY Technology Group III announced that its business combination with IonQ, a leader in quantum computing, was subject to approval at the company’s stockholders meeting on September 28.

It’s expected to be approved. Previously, more than 96% of share representation indicated a vote in favor of the combination and the adoption of the related proposals, the company reported, adding that IonQ expects to receive in excess of $600 million of gross proceeds.

“The era of quantum computing has arrived, and IonQ is leading the way with our revolutionary trapped ion technology,” said Peter Chapman, President and CEO on IonQ. “We are proud to have tripled our bookings expectations for 2021, and are further thrilled to have recently struck market-making collaborations with Goldman Sachs, Fidelity Center for Applied Technology, GE Research and the University of Maryland. In addition, since March we have announced a host of partnerships across the leading cloud providers, making IonQ the only quantum computing company with cloud partnership across each of Amazon, Google and Microsoft and providing unmatched access to the top quantum programmers in the world. I want to thank the entire IonQ team for their tireless effort and look forward to continuing to pave the future of quantum computing.”

IonQ went public through a Special Purpose Acquisition Company, or SPAC, an increasingly popular way to list companies on public stock exchanges.

IonQ is a leader in  trapped-ion approach to quantum computing, an approach they aim to use to create the world’s most powerful quantum computers. IonQ employs some of the world’s foremost talent in quantum, including Co-Founders Dr. Jungsang Kim and Dr. Chris Monroe, who have both been named to the National Quantum Initiative Advisory Committee to the White House and have been trailblazers in the world of quantum computing for decades. IonQ is dedicated to making quantum computing not just the technology of the future, but increasingly, the cutting-edge technology of today.

Subject to a final stockholder vote and the satisfaction or waiver of the other customary closing conditions, dMY III anticipates closing the Business Combination on September 30, 2021. In connection with the Closing, the Company will change its name to IonQ, Inc. and the combined company’s shares of common stock and public warrants are expected to trade on the New York Stock Exchange beginning on October 1, 2021 under the ticker symbols “IONQ” and “IONQ.WS,” respectively.

Matt Swayne

Matt Swayne

Matt Swayne is a contributor at The Quantum Insider. He focuses on breaking news about quantum discoveries and quantum computing.

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