From A $45-50 Range At Filing, To $53-55 After Demand Built, To A Final Price Of $60. The Progression Of Quantinuum’s Book Shows A Market That Ran Toward Quantum, Not Away From It, Debuting On Nasdaq As QNT On Thursday
According to Barron’s, Reuters via CNBC and Bloomberg, Honeywell’s Quantinuum raised $1.68 billion in its US initial public offering after pricing shares at $60 each, selling 28 million shares. The company will begin trading on Nasdaq on Thursday under the ticker symbol QNT, with JPMorgan and Morgan Stanley as lead underwriters.
Demand reached more than 20 times the available shares, with allocations favouring long-only investors who had previously engaged with the management team. The offering was upsized twice: originally planned at $45-50 for 21 million shares, it was revised to $53-55 for 26.5 million shares before pricing above the range at $60.
Quantinuum was formed in 2021 through the merger of Honeywell Quantum Solutions and Cambridge Quantum. The company reported 2025 revenue of $30.9 million, bookings of $79.3 million, and a net loss of $192.6 million.
Honeywell will retain approximately 48.1% of combined voting power after the listing. A tentative $100 million Commerce Department funding agreement to support Quantinuum’s trapped-ion quantum systems adds a national security dimension to the listing.
To check out our previous coverage on quantum computing and IPO markets, read our articles here.
