IonQ Expected to Go Public With in Excess of $600 Million in Expected Gross Proceeds
IonQ Expected to Begin Trading under the symbol NYSE: IONQ on October 1, 2021.
Fully committed PIPE with participation from Fidelity Management & Research Company LLC, Silver Lake, Breakthrough Energy Ventures, MSD Partners, L.P., Hyundai Motor Company and Kia Corporation, and key institutional investors.
Business combination with IonQ is expected to be approved by dMY III stockholders.
dMY Technology Group III (“dMY III”) (DMYI) announced that its business combination (the “Business Combination”) with IonQ, a leader in quantum computing, is expected to be approved at the previously announced meeting of the Company’s stockholders on September 28, 2021, at 12:00 p.m. Eastern time, with stockholders representing more than 60% of the Company’s issued and outstanding shares having submitted proxies, of which shares representing more than 96% have indicated a vote in favor of the combination and the adoption of the related proposals. Upon the closing of the Business Combination (the “Closing”), IonQ expects to receive in excess of $600 million of gross proceeds, reflecting redemptions of Company units in the single-digit percentile by the Company’s stockholders prior to the redemption deadline, which occurred Friday, September 24th at 5:00 p.m. Eastern time.
“The era of quantum computing has arrived, and IonQ is leading the way with our revolutionary trapped ion technology”
“The era of quantum computing has arrived, and IonQ is leading the way with our revolutionary trapped ion technology,” said Peter Chapman, President and CEO on IonQ. “We are proud to have tripled our bookings expectations for 2021, and are further thrilled to have recently struck market-making collaborations with Goldman Sachs, Fidelity Center for Applied Technology, GE Research and the University of Maryland. In addition, since March we have announced a host of partnerships across the leading cloud providers, making IonQ the only quantum computing company with cloud partnership across each of Amazon, Google and Microsoft and providing unmatched access to the top quantum programmers in the world. I want to thank the entire IonQ team for their tireless effort and look forward to continuing to pave the future of quantum computing.”
IonQ is a leader in quantum computing, utilizing a trapped-ion approach to create the world’s most powerful quantum computers. IonQ employs some of the world’s foremost talent in quantum, including Co-Founders Dr. Jungsang Kim and Dr. Chris Monroe, who have both been named to the National Quantum Initiative Advisory Committee to the White House and have been trailblazers in the world of quantum computing for decades. IonQ is dedicated to making quantum computing not just the technology of the future, but increasingly, the cutting-edge technology of.
Subject to a final stockholder vote and the satisfaction or waiver of the other customary closing conditions, dMY III anticipates closing the Business Combination on September 30, 2021. In connection with the Closing, the Company will change its name to IonQ, Inc. and the combined company’s shares of common stock and public warrants are expected to trade on the New York Stock Exchange beginning on October 1, 2021 under the ticker symbols “IONQ” and “IONQ.WS,” respectively.
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