IQM Quantum Computers completes SPAC merger; RAAQ delisted from Nasdaq

Key facts

• Business Combination effective July 1, 2026, between IQM Quantum Computers Oyj and Real Asset Acquisition Corp.
• Nasdaq permanently suspended trading of RAAQ securities prior to opening of July 2, 2026; deregistration effective 10 days from Form 25 filing on July 1, 2026
• Warrant Price for converted warrants set at $11.50 per ADS; exercise period commences 30 days after effective date and expires at earliest of five years later, liquidation, or redemption date
• IQM granted registration rights with commitment to file Form F-1 resale shelf within 30 calendar days following closing date
• Private Placement Warrants cannot be transferred for 30 days after effective date; Public Warrants redeemable at $0.01 if ADS price equals or exceeds $18.00 for 20 trading days within 30-day period
• 8,625,000 Public Warrants and 5,450,000 Private Placement Warrants outstanding; Private Placement Warrants non-redeemable
• Peter Ort resigned as Chief Executive Officer and Co-Chairman; Jeff Tuder resigned as Chief Financial Officer and Co-Chairman; Robert Neal, Mark Smith, Eduardo Munemori ceased as directors
• Jeff Tuder to serve as director of IQM post-merger

Why it matters

RAAQ shareholders and warrant holders now hold interests in IQM, a Finland-incorporated quantum computing company, with their equity and warrant positions converted into IQM securities; the delisting ends RAAQ's status as a Nasdaq-listed public vehicle and marks the completion of the SPAC-to-operating-company transition.

Developing story

• 25-NSEJul 1, 2026
• 8-KJul 8, 2026this filing

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