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 an additional PIPE commitment from Ilmarinen in connection with the previously announced business combination between IQM and RAAQ. Ilmarinen’s new commitment comes alongside commitments from other leading institutional investors in the previously announced USD 134 million PIPE.

The incremental PIPE provides additional funding on top of the previously announced USD 134 million in PIPE financing proceeds to be used to accelerate IQM’s technology and commercial development towards fault-tolerant quantum computing, further advancing its position as a leading provider of quantum computers.

Headquartered in Finland, IQM plans to list its American Depositary Shares on the Nasdaq Stock Market in the U.S. and its ordinary shares on the Helsinki stock exchange in connection with the completion of this transaction. Ahead of the listing, investment exposure to IQM is available to the public by investing in its special purpose acquisition company partner, Real Asset Acquisition Corp. (Nasdaq: RAAQ).

IQM is a quantum computing company that builds full stack, open-architecture quantum computers that can be deployed on-premise or accessed via the cloud. IQM operates a vertically integrated business model, boasting a unique combination of proprietary infrastructure from their own chip design tool and software developer platform, to a quantum chip fab, assembly line and data center, allowing the company to accelerate its innovation cycles, deliver best-in-class quantum computing to its customers and enabling the quantum ecosystem to grow.

Jan Goetz, Co-Founder and Chief Executive Officer, IQM, said: “We’re pleased to see such strong investor demand, particularly with the addition of Ilmarinen. This upsized commitment from one of Finland’s largest private earnings-related pension insurance companies underscores confidence in our technology roadmap and the progress we’re making with our Production Quantum - a model where our customers own the system, operate it, and grow with it. This commitment signals that the market recognizes our product readiness and the real value we‘re delivering to customers tackling some of the world’s most complex problems.”

Peter Ort, Chief Executive Officer and Co-Chairman, Real Asset Acquisition Corp, said: “We reopened the PIPE because the demand is there from institutional investors who recognize what IQM has built — operational quantum computers, active customer deployments, and a commercial foundation that most of the quantum sector has yet to achieve. This capital positions us to scale aggressively into that lead.”

The securities being sold in the PIPE financing have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws and accordingly may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

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.

Conference Call Information

Management of IQM and RAAQ previously hosted an investor conference call to discuss the transaction and review an investor presentation.