PRINCETON, N.J. & ESPOO, FINLAND -- IQM Finland Oy, a global leader in full-stack superconducting quantum computers (“IQM”, “IQM Quantum Computers” or the “Company”), and Real Asset Acquisition Corp. (Nasdaq: RAAQ), a special purpose acquisition company (“RAAQ”), announced today the public filing of a registration statement on Form F-4 (the “Registration Statement”), which includes a preliminary proxy statement, with the U.S. Securities and Exchange Commission (“SEC”) in connection with the proposed Business Combination Agreement announced February 23, 2026.

Jan Goetz, Chief Executive Officer and Co-Founder, IQM, said: “This filing is a milestone we have worked hard to reach, and it signals our readiness to operate at a new level. Public markets will give IQM the platform and capital to accelerate everything we are building as we work towards delivering fault-tolerance quantum computing at scale. We are proceeding thoughtfully and with full focus on a seamless path to listing.”

Peter Ort, Principal Executive Officer and Co-Chairman of Real Asset Acquisition Corp, said: "We are proud to be partnered with IQM as we hit this important milestone. We look forward to completing this transaction and supporting the company’s vision for the future of quantum computing.”

While the Registration Statement has not been declared effective, and the information included therein is not complete and is subject to change, it contains key information about RAAQ and its securities, IQM's financials, technology, and growth strategy, as well as the terms and conditions of the proposed business combination.

As previously announced, IQM and RAAQ have entered into a definitive business combination agreement, which will result in IQM becoming a public company. IQM intends to list its American Depositary Shares on the Nasdaq Global Exchange under the ticker symbol “IQMX”. The transaction provides funding with the aim of accelerating IQM’s technology and commercial development towards fault-tolerance quantum computing, further advancing its position as a leading provider of quantum computers.

Headquartered in Finland, IQM intends to apply for its shares to be admitted to trading on Nasdaq Helsinki under the proposed symbol “IQMX” which is expected to take place following the completion of this transaction.

Transaction Highlights:

Following completion of the transaction, IQM’s pre-money equity valuation will amount to approximately USD 1.8 billion. The existing IQM shareholders will not sell any shares or receive any cash consideration as part of the transaction, and all material IQM shareholders have committed to a customary lock-up agreement at close of this transaction.

Upon closing of the transaction, IQM anticipates access to approximately USD 175 million of cash held in RAAQ’s trust account (based on the current amount in the trust account and assuming no redemptions); approximately USD 134 million in proceeds from a PIPE financing at USD 10.00 per share from leading new, existing, and institutional investors, to close concurrently with the business combination, subject to the satisfaction of certain customary closing conditions; expected USD 24 million in proceeds from the cash exercise of outstanding IQM warrants prior to the closing; and existing cash on IQM’s balance sheet of USD 172 million3 or over EUR 146 million.

The board of directors of both IQM and RAAQ have each unanimously approved the proposed business combination. The closing of the proposed business combination is subject to, among other things, the approval by shareholders of RAAQ and IQM of the business combination agreement and the satisfaction of other customary closing conditions.

Additional information about the proposed business combination, including a copy of the business combination agreement, was provided in a Current Report on Form 8-K filed by RAAQ with the SEC.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.