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Reuters
Tue, May 26, 2026 astatine 6:32 AM CDT 1 min read
ZURICH, May 26 (Reuters) - Terra Quantum has changed its spouse for its planned $3.5 cardinal listing, the Swiss quantum exertion institution said connected Tuesday.
The German-Swiss institution volition merge with Axiom Intelligence Acquisition Corp 1, a peculiar intent acquisition institution already listed connected the Nasdaq planetary market, it said.
The transaction worth represents an summation from a antecedently announced non-binding missive of intent with different SPAC, Mountain Lake Acquisition Corp II, which valued it astatine $3.25 billion, the institution said.
The combined institution volition clasp the Terra Quantum sanction and is expected to database connected Nasdaq erstwhile the transaction closes in the 2nd fractional of 2026. The woody will present proceeds of astir $190 million.
Chief Executive Markus Pflitsch said the listing would springiness Terra Quantum added resources and visibility to grow globally and accelerate innovation.
Terra Quantum, headquartered successful St. Gallen, develops quantum algorithms, quantum information tools and hybrid quantum-classical computing systems.
Quantum technologies question to harness the laws of quantum mechanics to execute tasks that spell beyond what is realistically achievable using accepted computing.
Terra Quantum, which has astir 200 staff, has clients including the U.S. Air Force, German concern conglomerate Siemens, user goods institution Unilever arsenic good as banks HSBC and BBVA.
(Reporting by John Revill, Editing by Friederike Heine)
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