IonQ becomes the first pure, publicly traded quantum computing company; Closing of the business combination with dMY Technology Group III
IonQ ushers in the era of quantum computing, public market listings to start trading on the NYSE under the ticker “IONQ” today, October 1, 2021
IonQ received gross proceeds of $ 636 million from the transaction to finance growth and accelerate the commercialization of advanced quantum computers
COLLEGE PARK, Maryland, October 01, 2021– (COMMERCIAL THREAD) – IonQ, Inc. (“IonQ” or the “Company”) (NYSE: IONQ), a leader in quantum computing, has completed its previously announced business combination with dMY Technology Group, Inc. III (” dMY “) (formerly NYSE: DMYI), a publicly traded special purpose acquisition company, on September 30, 2021. As of this morning, the common shares and warrants of the combined company, IonQ Inc., will be listed on the New York Stock Exchange under the ticker symbols “IONQ” and “IONQ.WS”, respectively.
IonQ pioneers quantum computing with the world’s most powerful trapped ion quantum computer, and is the only company with its quantum systems available through the cloud on Amazon Braket, Microsoft Azure, and Google Cloud. This business combination provided IonQ with gross proceeds of $ 636 million to fund its future growth and accelerate the commercialization of its advanced quantum computers.
“Quantum is here, and IonQ is leading the industry with its revolutionary trapped ion technology,” said Peter Chapman, President and CEO of IonQ. “Over the past six years, we’ve taken this critical technology out of the lab and developed it into a commercial product. This year, we are proud to have tripled our 2021 reservation expectations, and are also delighted to have announced collaborations with Goldman Sachs, Fidelity Center for Applied Technology, GE Research and the University of Maryland. We are touched by the interest generated by our public announcement and are confident in our ability to meet our business plan. I am extremely grateful to the entire IonQ ecosystem of employees, customers and stakeholders – this is just the start. “
Last month, IonQ announced that it had tripled its expectations for total contract bookings in 2021 from its previously announced target of $ 5 million to $ 15 million. IonQ believes this is a demonstration of the real and rapidly accelerating need for quantum computing among corporate clients and consolidates IonQ as a leader in quantum computing.
“The listing of IonQ today marks an incredibly important milestone for quantum computing: the demand for this technology is real and the path to commercialization and scale is tangible,” said Niccolo de Masi, Group CEO. of dMY Technology companies. “We are delighted to continue to work in partnership with the IonQ leadership team and look forward to celebrating the achievements and future steps of the company. “
Morgan Stanley & Co. LLC was the exclusive financial advisor to IonQ. Goldman Sachs & Co. LLC has been the exclusive financial advisor to dMY III. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC also acted as co-lead placement agents on PIPE. Needham & Company also acted as placement agent on PIPE. Cooley LLP and Cleary Gottlieb Steen & Hamilton LLP represented IonQ and dMY III, respectively, as legal counsel.
IonQ, Inc. is a leader in quantum computing, with a proven track record in innovation and deployment. IonQ’s next-generation quantum computer is the world’s most powerful trapped-ion quantum computer, and IonQ has defined what it believes is the best way forward to evolve. IonQ is the only company whose quantum systems are available through the cloud on Amazon Braket, Microsoft Azure, and Google Cloud, as well as direct API access. IonQ was founded in 2015 by Christophe monroe and Jungsang Kim based on 25 years of pioneering research. To learn more, visit www.ionq.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain forward-looking statements can be identified by the use of forward-looking words. Statements which are not historical in nature, including the words “anticipate”, “expect”, “suggest”, “plan”, “believe”, “intend”, “estimate”, ” targets “,” projects “,” should, “” could “,” would “,” could “,” will “,” forecast “and other similar expressions are intended to identify forward-looking statements. Such statements include those relating to the Company’s ability to accelerate the commercialization of its advanced quantum computers and the intended use of capital to fund growth and reach scale; and the growing need for quantum computing among corporate clients. predictions, projections and other statements regarding future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. Many factors could cause future events to occur. s actual differ materially from forward-looking statements contained in this press release, including, but not limited to: market adoption of quantum computing solutions and the Company’s products, services and solutions; the Company’s ability to protect its intellectual property; changes in the competitive industries in which the Company operates; changes in laws and regulations affecting the activities of the Company; the Company’s ability to implement its business plans, forecasts and other expectations, and to identify and realize additional partnerships and opportunities; and the risk of a downturn in the market and the tech industry, including, but not limited to, due to the COVID-19 pandemic. The foregoing list of factors is not exhaustive. You should carefully consider the above factors and other risks and uncertainties described in the “Risk Factors” section of the registration statement on Form S-4 and other documents filed by the Company from time to time with of the Securities and Exchange Commission. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in forward-looking statements. Forward-looking statements speak only as of the date on which they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information. , future events or otherwise. The Company gives no assurance that it will meet its expectations.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211001005358/en/
IonQ media contact:
Contact for IonQ Investors:
Michael Bowen and Ryan Gardella