A quantum computing company spun off from Honeywell has expanded its plans for going public, now aiming for a market value that could reach $14.3 billion as investors show strong interest in the emerging technology sector.
Quantinuum, headquartered in Broomfield, Colorado, announced Monday it plans to raise as much as $1.46 billion through the sale of 26.5 million shares, with each share expected to sell for between $53 and $55.
The company had previously planned a smaller public debut, looking to generate up to $1.05 billion by selling approximately 21.1 million shares at a lower price range of $45 to $50 per share.
This month is shaping up to be particularly active for companies going public, as businesses attempt to take advantage of favorable market conditions before SpaceX’s highly anticipated stock market debut. Seven companies from various industries including defense and energy are planning to price their public offerings during this week.
The investment banks J.P. Morgan and Morgan Stanley are serving as the primary underwriters managing the Quantinuum stock offering.
Trading for Quantinuum shares is scheduled to begin Thursday on the Nasdaq stock exchange, where the company will trade under the ticker symbol “QNT.”
