Honeywell’s quantum company goes public. What investors should know about the IPO
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- Quantinuum priced its IPO at $60 per share, selling about 28 million shares and raising $1.68 billion, valuing the company at $15.66 billion.
- Quantinuum began trading on Nasdaq under ticker QNT, spiking up to 19% intraday before settling at just under 1% gain.
- Honeywell International remains the largest shareholder with 48% of voting power, but will not issue Quantinuum shares to its own investors.
- Honeywell CEO Rajeeb Hazra said the company will stay a disciplined shareholder and eventually monetize its Quantinuum stake.
- Quantinuum is among quantum computing firms slated to receive $2 billion in federal grants from the Commerce Department.
Why it matters: Honeywell secures a $15.66 billion valuation for its quantum arm and can later monetize the 48% stake, while investors gain a direct public exposure to a nascent, volatile quantum computing sector.
