Sarah Kreikemeier
College Park-based quantum computing company IonQ is in “advanced talks” to go public, Bloomberg reported on Wednesday.
The company could be taken public through a merger with DMY Technology Group Inc. III, that would create a combined worth $2 billion. DMY is what’s known as a special purpose acquisition company (SPAC), which have gone mainstream among investors as a vehicle to take privately held companies to publicly traded status. The merger talks also include a private investment in public equity (PIPE), in which investors back the SPAC, Bloomberg reported.
IonQ emerged out of clustered activity around quantum computing between government, academics and companies that’s centered in the state around the University of Maryland College Park. The company was founded in 2015, and has raised $84 million. It launched a next-generation quantum computer as it opened a new data center space in October.
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