Horizon quantum: Horizon Quantum Computing Pte Ltd (Horizon Quantum) has completed its business combination with dMY Squared Technology Group Inc (dMY), securing approximately US$120 million in gross proceeds and marking its public debut on the Nasdaq. (US$1=RM3.94)

According to BERNAMA News Agency, the transaction, approved by dMY shareholders on March 17, will see the combined entity begin trading on March 20 under the ticker symbols 'HQ' for shares and 'HQWWW' for warrants. Horizon Quantum develops software infrastructure designed to enable developers to leverage quantum computing for complex computational challenges. The proceeds from the transaction will be used to accelerate research and development, enhance its hardware testbed, and advance its integrated development environment, Triple Alpha.

Joe Fitzsimons, Horizon Quantum Founder and Chief Executive Officer (CEO), stated that recent rapid progress in quantum hardware and error correction signals an inflection point for the industry. With the Nasdaq listing, the company is positioned to deliver the software infrastructure needed to power the next phase of computing and enable broad quantum advantage.

Meanwhile, Harry You, dMY Chairman and CEO, said Horizon Quantum's hardware-agnostic approach positions it to benefit regardless of how quantum computing technologies evolve across competing modalities, including cloud-based systems. Advisers to the transaction included Needham and Company LLC as exclusive financial adviser and placement agent, alongside legal counsel from Ellenoff Grossman and Schole LLP, Rajah and Tann Singapore LLP, and White and Case LLP, among others.

The listing underscores growing investor interest in quantum computing, as companies seek to commercialize software platforms capable of unlocking future computational capabilities.