Insider Brief
- Horizon Quantum completed a SPAC merger with dMY Squared Technology Group, securing about $120 million and listing on Nasdaq under the ticker “HQ” to expand its quantum software business.
- The company is focused on building hardware-agnostic software infrastructure, including its Triple Alpha development environment, to enable developers to run applications across different quantum computing platforms.
- Executives said the funding will support R&D and system development as advances in quantum hardware and error correction push the industry toward broader practical use.
PRESS RELEASE — Horizon Quantum Computing Pte. Ltd. (“Horizon Quantum”), a pioneer of software infrastructure for quantum applications, today announced that it has completed its previously announced business combination (the “Business Combination”) with dMY Squared Technology Group, Inc. (“dMY”) (OTC: “DMYY”, “DMYYU” and “DMYYW”), a publicly traded special purpose acquisition company. The Business Combination was approved by dMY’s shareholders at dMY’s special meeting held on March 17, 2026. On March 20, 2026, the combined company’s Class A ordinary shares and warrants will begin trading on Nasdaq under the ticker symbols “HQ” and “HQWWW,” respectively.
Horizon Quantum is building software infrastructure that empowers developers to use quantum computing to solve the world’s toughest computational problems. The closing of the Business Combination provides Horizon Quantum with gross proceeds of approximately $120 million, before transaction expenses, which the company plans to use to accelerate its investments in research and development, strengthen its hardware testbed, and further advance its integrated development environment Triple Alpha.
“Recent rapid progress in advancing quantum computing hardware and breakthroughs in error correction mean that the field is reaching an inflection point. With today’s closing and our Nasdaq listing, Horizon Quantum is positioned to deliver the software infrastructure that will power this next phase of computing and help enable broad quantum advantage across tough computational problems,” said Dr Joe Fitzsimons, Founder and CEO of Horizon Quantum. “While there is still much work needed before quantum computers reach their full potential, with more than 20 years in quantum computing research, I have never been more excited about the prospects and future of the technology.”
Harry You, Chairman and CEO of dMY, said, “Over the tenure of my career, I have witnessed many technology companies triumph, and I have found that the ones who are most successful in building long-term shareholder value have been those that build software infrastructure and operating systems. Horizon Quantum is compelling because the company is approaching the quantum industry with hardware-agnostic software infrastructure that stands to benefit regardless of which way the market share ultimately falls across the competing quantum modalities, including the cloud.”
