Jun. 30 at 1:09 AM
Quantum computing company SeeQC has filed for an initial public offering, seeking to list on the Nasdaq Global Market under the symbol SEQC. The number of shares and pricing have not yet been disclosed. Cantor and BTIG are leading the offering, with Needham & Company and Craig-Hallum also serving as underwriters.
The IPO is tied to SeeQC's planned merger with Allegro Merger Corp., which is expected to close concurrently with the offering, making Allegro a wholly owned subsidiary of SeeQC. Separately, certain investors have committed to purchase Allegro common stock and pre-funded warrants in a private placement expected to raise approximately
$65 million.
Founded in 2019 from assets acquired from superconducting electronics company Hypres, SeeQC develops superconducting digital control, readout, and quantum-classical integration technologies for quantum computers and operates its own superconducting foundry.
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