Quantinuum boosts IPO offering to USD1.46 billion
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The news: Honeywell International-backed quantum computing company, Quantinuum, has increased the size of its initial public offering to USD1.46 billion.
The numbers: In a US securities filing, the company confirmed it would increase the number of shares for the IPO from 21 million to 26.5 million at a revised price range of USD53 to USD55, up from an earlier range of USD45 to USD50.
Based on outstanding shares in its filing, the company would have a market value of up to USD14.3 billion at the top of the latest share price range.
The context: The quantum computing company is developing platforms for use in chemistry and finance and is in line for USD100 million share of upcoming government support totalling USD2 billion.
The company is expected to price after New York market close on Wednesday and begin trading the following day.
The sources: SEC filing , Bloomberg
