IonQ Becomes First Publicly Traded, Pure-Play Quantum Computing Company; Closes Business Combination with dMY Technology Group III
(IonQ.News) IonQ lists on public market to begin trading on NYSE under ticker “IONQ” today, October 1, 2021.
IonQ received gross proceeds of $636 million from transaction to fund growth and accelerate the commercialization of industry-leading quantum computers
IonQ, Inc. (“IonQ” or the “Company”) (NYSE: IONQ), a leader in quantum computing, completed its previously announced business combination with dMY Technology Group, Inc. III (“dMY”) (formerly NYSE: DMYI), a publicly traded special purpose acquisition company, on September 30, 2021. Starting this morning, the common stock and warrants of the combined company, IonQ Inc., will be listed on the New York Stock Exchange under the ticker symbols “IONQ” and “IONQ.WS,” respectively.
IonQ is the only company with its quantum systems available through the cloud on Amazon Braket, Microsoft Azure, and Google Cloud. This business combination provided IonQ with $636 million in gross proceeds to fund future growth and accelerate the commercialization of its industry-leading quantum computers.
“Quantum is here, and IonQ is leading the industry with our revolutionary trapped-ion technology,” said Peter Chapman, President and CEO of IonQ. “Over the past six years, we have taken this critical technology out of the lab and have developed it into a commercial product. This year, we are proud to have tripled our bookings expectations for 2021, and are further thrilled to have announced collaborations with Goldman Sachs, Fidelity Center for Applied Technology, GE Research and the University of Maryland. We are humbled by the interest in our public listing and are confident in our ability to deliver against our business plan. I’m incredibly grateful to the entire IonQ ecosystem of employees, customers and stakeholders – this is just the beginning.”
Last month, IonQ announced that it had tripled its expectation for 2021 total contract bookings from its previously announced target of $5 million to $15 million. IonQ believes this is a demonstration of the real and rapidly accelerating need for quantum computing among enterprise customers and cements IonQ as a leader in quantum computing.