Quantinuum Sets IPO Terms That Could Push Market Cap Toward $13 Billion

By Colin Kellaher

Quantinuum unveiled terms of a planned initial public offering that could give the quantum-computing company majority-owned by Honeywell International an initial market capitalization approaching $13 billion.

Quantinuum on Tuesday said it plans to sell nearly 21.1 million shares at between $45 and $50 each in the IPO.

At the $47.50 midpoint of that range, the Broomfield, Colo., company said it expects net proceeds of about $941.7 million, or roughly $1.09 billion if the underwriters exercise an option to buy an additional 3.16 million shares.

Quantinuum, which was formed in 2021 through the merger of Honeywell Quantum Solutions with U.K.-based start-up Cambridge Quantum Computing, said it would have about 257.1 million shares outstanding after the IPO, assuming an exercise of the overallotment option, for a market capitalization of nearly $12.9 billion at the $50-a-share pricing high end.

Honeywell currently owns nearly 55% of Quantinuum, while entities affiliated with Cambridge Quantum own roughly 36%.

Quantinuum last year announced a $600 million equity capital fundraise at a premoney valuation of $10 billion.

The Commerce Department last week said the Trump administration is awarding $2 billion in grants to nine quantum-computing companies, including Quantinuum, in deals that include U.S. government receiving a minority, non-controlling equity stakes in the companies.

Quantinuum will receive up to $100 million in funding, including an initial $56 million.

Quantinuum said it will apply to list its shares on the Nasdaq Global Market under the symbol QNT.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

May 26, 2026 08:05 ET (12:05 GMT)