Horizon Quantum to go public through merger with dMY Squared

• Horizon Quantum Computing is merging with dMY Squared Technology Group, with both boards approving the transaction, expected to close in Q1 2026.

• The merger will establish Horizon Quantum Holdings Ltd., with plans for its shares to be traded on Nasdaq under the ticker “HQ,” valuing the company at approximately US$503 million.

• This merger aims to accelerate the development of software infrastructure critical for advancing quantum computing technology.

• Following the merger announcement, dMY Squared Technology’s shares experienced a premarket rise of over 9%.

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Horizon Quantum Computing, a frontrunner in developing software that bridges quantum hardware with various applications, has announced a merger agreement with dMY Squared Technology Group (NYSE: DMYY).

Both companies’ boards of directors have unanimously approved the transaction, which is anticipated to finalize in the first quarter of 2026, pending the fulfillment of standard closing conditions.

Upon completion, the newly merged entity will be known as Horizon Quantum Holdings Ltd., with its Class A shares poised to trade on Nasdaq under the ticker symbol “HQ.”

The deal values Horizon Quantum at an estimated US$503 million and aims to significantly expedite the advancement of software infrastructure crucial for the evolution of quantum computing technology.

In reaction to the merger announcement, shares of dMY Squared Technology (NYSE: DMYY) saw a premarket increase of over 9%.

dMY Squared is a special purpose acquisition company helmed by chairman and CEO Harry You, a seasoned technology executive who currently holds a position on Broadcom’s executive committee and previously served as the lead independent director at IonQ.

The SPACs associated with dMY Technology, co-founded by Harry You and Niccolo de Masi, include IonQ (IONQ), Rush Street Interactive (RSI), Genius Sports (GENI), and Planet Labs (PL). Following this merger, Niccolo de Masi has transitioned to serve as the president and CEO of IonQ, resulting in his resignation from roles within dMY Technology.

Source: Press Release