Honeywell's Quantinuum has raised $1.68 billion in its U.S. initial public offering, pricing shares at $60 each, according to a source close to the matter. The Broomfield, Colorado-based company sold 28 million shares in the offering, marking a significant test of investor appetite for quantum computing.
Earlier this week, Quantinuum increased its price range to $53-$55 per share and boosted the number of shares on offer to 26.5 million-typically a sign of strong demand. The IPO comes as the U.S. listings market regains momentum, with investor enthusiasm concentrated in technology and high-growth sectors.
Quantinuum will begin trading on the Nasdaq under the ticker "QNT" on Thursday. J.P. Morgan and Morgan Stanley are lead underwriters.
Formed in 2021 through the merger of Honeywell's quantum computing business and Cambridge Quantum, the company is still in early commercial stages but has reported accelerating bookings. Honeywell, valued at roughly $150 billion, will retain about 48.1% of voting power after the offering.
Analysts at Wedbush note the IPO will deepen the quantum computing universe, improve price discovery, and draw institutional coverage to a thinly followed sector. Last month, the Trump administration said it will take $2 billion in equity stakes across nine quantum companies.
Quantinuum develops quantum computers designed to solve complex problems that would take classical computers thousands of years or longer to process.