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# IQM agrees Nasdaq SPAC merger, becoming Europe's first listed quantum firm
- URL: https://sovereigntymonitor.eu/news/2026-02-23-iqm-nasdaq-spac-merger/
- Published: 2026-02-23T12:00:00.000Z
- Updated: 2026-09-19T12:00:23.000Z
- Description: Finland's IQM agreed to merge with US shell company Real Asset Acquisition Corp to list American Depositary Shares on Nasdaq at a USD1.8 billion pre-money valuation plus USD134 million in PIPE financing, keeping operations in Finland and Munich.
- Author: Reidar Balstad
- Tags: Industry, investment and R&D, Compute and infrastructure, #news, #verified, #editor-read

Verified Editor-read [IQM press release, 23 February 2026](https://iqm.tech/press-releases/iqm-a-global-leader-for-quantum-computing-to-become-the-first-listed-european-quantum-company-through-merger-with-real-asset-acquisition-corp/?ref=sovereigntymonitor.eu)

**What it does not test.** Does not establish that IQM's operations or governing law relocate; its stated headquarters and major operations stay in Finland and Germany.

**How this item counts.** Towards dependence: it changes who owns. Binding 2 of 3 (agreed or funded), scale 3 of 3 (large), Verified counts in full: weight -6 of 36 possible. SPAC merger lists IQM on Nasdaq, shifting equity to US holdco; ops/law stay in FI/DE. [European Sovereignty Index](https://sovereigntymonitor.eu/sovereignty-index/)

**How this item was made.** Drafted by an AI system (Claude (Anthropic)) from the source cited above; read and approved by the editor on 2026-09-19\. [How the record is made](https://sovereigntymonitor.eu/method/#how-the-record-is-made)