Cooley advised IQM Finland, a global leader in full-stack superconducting quantum computers, on its definitive business combination agreement with Real Asset Acquisition Corp. (Nasdaq: RAAQ, RAAQ), a special purpose acquisition company, which will result in IQM becoming a public company and listing American depositary shares on one of the two leading US stock exchanges. The transaction values IQM at a pre-money equity valuation of approximately $1.8 billion. Following completion of the transaction, IQM’s cash on its balance sheet is expected to be in excess of $450 million cash at closing (including IQM’s existing cash).
IQM Announces Merger With Real Asset Acquisition Corp., Concurrent PIPE Financing