IonQ Marks Quantum Computing Milestone, Trading on NYSE Under “IONQ” Ticker, Signaling New Investment Frontier
With $636 Million in Gross Proceeds, IonQ Accelerates Quantum Computer Commercialization, Outpacing Competitors in the Race to Quantum Supremacy
College Park, MD — October 1, 2021 — IonQ, Inc. (NYSE: IONQ), a frontrunner in the rapidly evolving quantum computing industry, has officially become the first publicly traded, pure-play quantum computing company, marking a significant milestone for the sector. Following the successful completion of its business combination with dMY Technology Group, Inc. III, IonQ commenced trading on the New York Stock Exchange (NYSE) under the ticker symbol “IONQ” on October 1, 2021. This landmark event positions IonQ as a unique investment opportunity in the burgeoning field of quantum technology, prompting investors to Nyse Ionq Compare with existing tech and future potential.
The business combination, finalized on September 30, 2021, provided IonQ with substantial gross proceeds of $636 million. This capital injection is strategically earmarked to fuel IonQ’s ambitious growth plans and expedite the commercialization of its industry-leading quantum computers. Compared to its peers, IonQ distinguishes itself through its innovative trapped-ion technology, which powers what the company touts as the world’s most powerful quantum computer of its kind. This technology is pivotal as businesses and researchers increasingly NYSE IONQ compare its capabilities against traditional computing and other quantum approaches.
“Quantum is not a future promise; it is here today, and IonQ is at the forefront, spearheading this technological revolution with our groundbreaking trapped-ion technology,” stated Peter Chapman, President and CEO of IonQ. “Our journey over the past six years has been transformative, transitioning this critical technology from a laboratory concept into a tangible commercial product. The market’s response has been overwhelming, as evidenced by tripling our 2021 bookings expectations. Collaborations with industry giants like Goldman Sachs, Fidelity Center for Applied Technology, GE Research, and the University of Maryland further validate our leadership. We are energized by the market’s enthusiasm for our public listing and are unwavering in our commitment to execute our business plan. My deepest gratitude extends to the entire IonQ ecosystem – our dedicated employees, forward-thinking customers, and supportive stakeholders. This is truly just the beginning of the quantum era.” Investors seeking to NYSE IONQ compare investment options will find IonQ uniquely positioned in a market ripe with potential.
IonQ’s technological advantage is further amplified by its cloud accessibility. It stands as the only quantum computing company offering its systems through prominent cloud platforms like Amazon Braket, Microsoft Azure, and Google Cloud. This broad accessibility is a key differentiator when analysts NYSE IONQ compare IonQ’s market reach and potential impact versus competitors who may have limited cloud presence.
The company’s strong market traction is highlighted by the upward revision of its 2021 total contract bookings expectation, increasing from a previously announced $5 million to $15 million. IonQ attributes this significant surge to the rapidly growing and tangible demand for quantum computing solutions among enterprise clients. This surge solidifies IonQ’s position as not just a participant, but a leader in the quantum computing space, prompting industry observers to NYSE IONQ compare its growth trajectory against market forecasts.
Niccolo de Masi, CEO of dMY Technology group of companies, commented, “IonQ’s public listing is a watershed moment for quantum computing. It underscores that the demand for quantum technology is not hypothetical – it is real, and the path to commercialization and scalability is clearly defined. We are excited to continue our partnership with the IonQ leadership team and anticipate celebrating many more milestones and achievements in the years to come.” For those looking to NYSE IONQ compare emerging technologies, IonQ’s move to the public market signals a maturing industry ready for broader investment and adoption.
Morgan Stanley & Co. LLC served as the exclusive financial advisor to IonQ, while Goldman Sachs & Co. LLC acted as the exclusive financial advisor to dMY III. Both Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC were co-lead placement agents on the PIPE, with Needham & Company also serving as a placement agent. Legal counsel was provided by Cooley LLP for IonQ and Cleary Gottlieb Steen & Hamilton LLP for dMY III.
About IonQ
IonQ, Inc. is at the vanguard of quantum computing, underpinned by a robust history of innovation and practical deployment. IonQ’s next-generation quantum computer is recognized as the world’s most powerful trapped-ion quantum computer, and the company has charted a clear and progressive course for future scaling. Uniquely, IonQ provides cloud access to its quantum systems via Amazon Braket, Microsoft Azure, and Google Cloud, alongside direct API access. Founded in 2015 by quantum pioneers Christopher Monroe and Jungsang Kim, IonQ builds upon 25 years of groundbreaking research. For further information, please visit www.ionq.com.
Forward-Looking Statements
This announcement includes forward-looking statements as defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements, identifiable by terms like “anticipate,” “expect,” “suggests,” and similar expressions, pertain to future events and are subject to uncertainties and risks. These include, but are not limited to, IonQ’s ability to commercialize quantum computers, utilize capital for growth, address market adoption, protect intellectual property, navigate competitive landscapes, comply with regulations, execute business plans, and mitigate market and technology downturns, including those related to the COVID-19 pandemic. These factors are not exhaustive and are further detailed in IonQ’s filings with the Securities and Exchange Commission, including the registration statement on Form S-4. Readers are cautioned against undue reliance on these forward-looking statements, which are relevant only as of the date of this release. IonQ undertakes no obligation to update these statements. No assurance is given regarding the achievement of expectations.
Contacts
IonQ Media Contact:
Mission North
[email protected]
IonQ Investor Contact:
Michael Bowen and Ryan Gardella
[email protected]
