IQM Finland Oy Strikes ~$1.8B Business Combination Agreement With Real Asset Acquisition

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"), today announced they have entered into a definitive business combination agreement, which will result in IQM becoming a public company and listing American Depositary Shares on one of the two leading U.S. stock exchanges. The transaction provides funding with the aim to accelerate IQM's technology and commercial development towards fault-tolerance quantum computing, further advancing its position as a leading provider of quantum computers.

Following completion of the transaction, IQM's cash on its balance sheet is expected to be in excess of USD 450 million cash at closing4 (including IQM's existing cash), providing runway for continued broad commercial advantage:

• 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 and 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;
• Existing cash on IQM's balance sheet of USD 172 million (unaudited as of year-end 2025); and
• The transaction values IQM at a pre-money equity valuation of approximately USD 1.8 billion.