Horizon Quantum to go public via dMY Squared SPAC at ~$503M valuation
On 2025-09-09 Horizon Quantum Computing and dMY Squared Technology Group entered a definitive business-combination agreement valuing Horizon at approximately US$503 million, with the combined company to be named Horizon Quantum Holdings and to list on Nasdaq under 'HQ', expected to close in Q1 2026. Horizon develops a hardware-agnostic quantum software platform. The deal contemplated roughly $120 million of gross proceeds including a ~$110M PIPE plus SPAC trust funds.
A ~$503M de-SPAC for a quantum-software developer is a notable going-public event below the hardware-financing tier, providing public capital but contingent on a Q1 2026 close.
A second quantum SPAC announced in the same week as Infleqtion signals renewed public-market appetite for quantum names and a financing path for software-layer companies that lack hardware-scale capital needs.