IonQ announced today that it has entered into a merger agreement with dMY Technology Group III, with the combined company valued at $2 billion. Upon closing of the transaction, IonQ shares will list on NYSE under IONQ as the first publicly traded pure-play hardware and software company in the quantum computing space. The deal had been rumored for nearly two weeks.
The transaction calls for $650 million in gross proceeds to IonQ, including a $350 million fully committed PIPE with participation from Fidelity Management & Research Company, Silver Lake, Breakthrough Energy Ventures, MSD Partners, Hyundai Motor Company and Kia Corporation, and institutional investors. The remaining cash would come from the SPAC’s trust account. Read more.
