Quantum Computing Company IonQ Now Listed on NYSE Following SPAC Deal

DURHAM – IonQ, the quantum computing startup linked to Duke University, is now listed on the New York Stock Exchange following the business combination with a Special Purpose Acquisition Company (SPAC) last week.

The company, founded in 2015 by by Chris Monroe and Jungsang Kim, announced the merger plans in March.

IonQ partnered with dMY Technology Group, Inc. II after PSPC shareholders gave their final approval to the deal, with 97% approval, according to a declaration published last week.

“IonQ brings quantum computing to its Fortune 500 customers, and we believe it will positively impact many key areas of valuable applied science over the next decade,” said Niccolo de Masi, CEO of dMY III, in the press release. “It was a privilege to get to know the IonQ team and we are proud to support this next step in their journey as a public company, where they will be capitalized to continue leading the industry they pioneered. for over two decades. “

As part of the deal, which closed at the end of the day on September 30, 2021, Harry You and Niccolo de Masi have joined IonQ’s board of directors, the company said.

The company will now trade its shares on the New York Stock Exchange under the symbol IONQ. The company became the first publicly traded pure-play quantum computing company, according to the New York Stock Exchange.

Peter Chapman, President and CEO of IonQ, rang the opening bell® on Friday, October 1.

The company operates under a licensing agreement with Duke University which translates research into IonQ technology.

Monroe now runs the newly created Duke Quantum Center, based in downtown Durham in a 20,000 square foot facility. Monroe and Kim are both faculty members at Duke University. Monroe also testified before the House Committee on Science, Space and Technology in May, speaking about quantum computing.

The company also received $ 2 million seed funding from New Enterprise Associates and a technology license developed at the University of Maryland at College Park, where Monroe conducted research before joining Duke University.

According to the company’s website, it has raised an additional $ 20 million from GV, Amazon Web Services and NEA, and has built two of the most accurate quantum computers in the world. The company then raised an additional $ 55 million in a round led by Samsung and Mubadala and announced partnerships with Microsoft and Amazon Web Services.

Professors Duke’s quantum computing startup goes public in $ 2 billion bid

The company plans to develop modular quantum computers that can be networked by 2023, she said in March.

This week, the company also announced that its researchers had published an article in the journal Nature this indicates that the results of quantum computers are reliable, even when they are built from parts that sometimes fail.

Quantum computer parts can be put together for reliable results, say researchers from Duke and Maryland

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