Honeywell’s quantum company goes public. What investors should know about the IPO Honeywell-backed Quantinuum’s stock saw significant gains in its Thursday debut, with its initial public offering raising $1.68 billion. The quantum computing firm, formed from a merger involving Honeywell, is now valued at over $15 billion. While the company is in a nascent, speculative industry, its IPO provides a clear valuation for investors and marks a step in Honeywell’s strategy to streamline operations.

• Quantinuum, a quantum computing company backed by Honeywell, had its stock jump as much as 19% on its debut.
• The IPO raised $1.68 billion, with shares priced at $60 each, above the expected range.
• Honeywell retains a significant stake and voting power in Quantinuum.
• Quantinuum was formed in 2021 through the merger of Honeywell’s Quantum Solutions group and Cambridge Quantum.
• The quantum computing sector is considered highly speculative and in its early stages, with applications still under development.
• Honeywell is also in the process of spinning off its Aerospace business and renaming its automation business Honeywell Technologies.
• Honeywell Aerospace has disclosed long-term financial targets ahead of its spin-off on June 29.