Horizon Quantum Computing Pte Ltd has completed its previously announced business combination with dMY Squared Technology Group Inc, marking a significant step in its transition to the public markets.
The transaction, approved by dMY shareholders at a special meeting on March 17, 2026, enables the combined entity to begin trading on the Nasdaq exchange from March 20, 2026. The company’s Class A ordinary shares and warrants will trade under the ticker symbols “HQ” and “HQWWW,” respectively.
The completion of the business combination provides Horizon Quantum with gross proceeds of approximately $120 million, before transaction-related expenses. The company plans to deploy the capital to accelerate research and development initiatives, expand its hardware testbed capabilities, and further advance its integrated development environment, Triple Alpha.
Horizon Quantum focuses on building software infrastructure designed to enable developers to leverage quantum computing for complex computational challenges. Its approach emphasizes hardware-agnostic solutions, allowing compatibility across different quantum computing architectures and deployment models, including cloud-based systems.
According to Joe Fitzsimons, Founder and CEO of Horizon Quantum, recent advancements in quantum hardware and error correction are driving the industry toward a critical inflection point. He noted that the company aims to play a central role in enabling the next phase of quantum computing by providing scalable and accessible software infrastructure.
Harry You, Chairman and CEO of dMY, highlighted the strategic importance of software infrastructure in emerging technology ecosystems. He emphasized that Horizon Quantum’s hardware-agnostic model positions it to benefit from the broader evolution of quantum computing, regardless of which hardware platforms gain dominance.
The deal reflects a growing trend of quantum technology companies accessing public markets to fund development and scale operations. With increased investment flowing into quantum computing, companies are focusing not only on hardware advancements but also on building robust software layers that can unlock practical applications.
Advisory support for the transaction included Needham & Company LLC as exclusive financial advisor and placement agent for the PIPE transaction. Legal counsel was provided by Ellenoff Grossman & Schole LLP and Rajah & Tann Singapore LLP for Horizon Quantum, and White & Case LLP along with TCF Law Group PLLC for dMY.
