Quantinuum’s IPO raised $1.68 billion, marking the first public listing for a pure-play quantum computing firm.
Quantinuum, Honeywell’s majority-owned quantum computing unit, priced its initial public offering at $60 per share, above its $53-$55 range. The sale of 28 million shares raised $1.68 billion, valuing the company at approximately $15 billion.
The IPO is the first for a pure-play quantum computing firm, following a 2021 merger between Honeywell’s quantum division and Cambridge Quantum. Quantinuum reported $30.9 million in revenue for 2025 but posted a net loss of $192.6 million.
Underwriters, including J.P. Morgan and Morgan Stanley, retain a 30-day option to purchase up to 4.2 million additional shares. Honeywell will hold about 48.1% of the combined voting power post-deal.