Quantinuum ends Nasdaq debut flat after $1.68 billion IPO
What's new: The quantum computing company finished with a $15.7 billion market value after pricing above its expected range.
Quantinuum finished little changed in its Nasdaq debut Thursday after raising $1.68 billion in an upsized initial public offering. The stock opened at $68, traded as high as $71.35 and ended the session roughly flat, leaving the company with a market value of $15.7 billion. Quantinuum priced shares at $60, above its earlier $53-to-$55 range. The company was formed in 2021 from a merger of Honeywell's quantum computing unit and Cambridge Quantum. In its filing, Quantinuum reported first-quarter revenue fell 73% to $5.24 million, while its net loss widened to $136.5 million from $30.5 million a year earlier. Honeywell is expected to keep a majority stake after the offering.