Terra Quantum announced a definitive business combination agreement with Axiom Intelligence Acquisition Corp 1 that will take the quantum technology company public at an implied equity valuation of approximately $3.5 billion.
Following the completion of the transaction, the combined company is expected to operate under the Terra Quantum name and trade on the Nasdaq under the ticker symbol “TQ.”
Headquartered in St. Gallen, Switzerland, Terra Quantum develops quantum computing, quantum security, and AI-driven optimization solutions for enterprise and government customers. The company said the new valuation represents an increase from a previously announced non-binding letter of intent with another SPAC, reflecting continued commercial growth, strategic partnerships, and ongoing development of its quantum technology platforms.
Terra Quantum said it has built a technology stack combining quantum computing, quantum-inspired optimization, artificial intelligence, and quantum cybersecurity into a unified enterprise platform designed to generate near-term commercial value. The company serves customers across financial services, manufacturing, pharmaceuticals, logistics, energy, government, and defense sectors.
The transaction values Terra Quantum at an implied pro forma enterprise value of approximately $3.6 billion, assuming no redemptions by Axiom shareholders. Existing Terra Quantum shareholders are expected to roll over 100% of their equity into the combined company and are projected to own approximately 92% of the business after closing. Axiom public shareholders and sponsors are expected to own about 8%, assuming no redemptions and excluding any additional financing.
Based on funds held in Axiom’s trust account following its IPO, the deal could provide up to approximately $190 million in gross proceeds before expenses, assuming no shareholder redemptions. The companies may also pursue additional financing through a PIPE or other capital raise tied to the transaction.
Terra Quantum said the proceeds are expected to support continued investment in research and development, enterprise sales expansion, strategic acquisitions and partnerships, growth of its quantum security and computing platforms, and geographic expansion across North America, Europe, the Middle East, and Asia-Pacific.
The transaction has been unanimously approved by the boards of both companies and is expected to close in the second half of 2026, subject to shareholder approvals, SEC registration effectiveness, Nasdaq listing approval, regulatory approvals, and other customary closing conditions.
After closing, Terra Quantum’s current management team is expected to continue leading the business, including Founder and CEO Markus Pflitsch, CFO and Chief Strategic Officer Dr. Eike Marx, and CTO Dr. Florian Neukart.
Cohen & Company Capital Markets is serving as exclusive financial and capital markets advisor to Terra Quantum.
KEY QUOTES:
“Today’s announcement marks a new chapter for Terra Quantum and validates the vision we established when we founded the company. Over the past several years, we have assembled a highly experienced team in quantum technology, developed a world-class portfolio of intellectual property, and demonstrated that quantum technologies can deliver real-world business value today. Becoming a publicly traded company will provide us with enhanced resources and visibility to accelerate innovation, expand globally, and further strengthen our position as a market leader in the quantum industry.
We believe quantum computing will fundamentally reshape industries, economies, and national competitiveness over the coming decades. Terra Quantum believes it is uniquely positioned to lead this transformation through our technology platform, commercial focus, and commitment to making quantum solutions accessible and impactful for enterprises worldwide.”
Markus Pflitsch, Founder and CEO, Terra Quantum
“Axiom was formed to partner with an exceptional company that is defining the future of an important industry. Following extensive diligence, we believe Terra Quantum stands apart as one of the most advanced and commercially focused quantum technology companies globally. Its combination of scientific excellence, proprietary technology, enterprise adoption, and visionary leadership, coupled with a strong track record of building and scaling DeepTech companies, creates a compelling platform for long-term value creation. We are excited to support Terra Quantum as a publicly traded company.”
Doug Ward, CEO, Axiom Intelligence Acquisition Corp 1
“Our technology platform represents years of pioneering research and development by a highly experienced team of quantum scientists. By becoming a public company, we expect to have enhanced resources to continue pushing the boundaries of what is possible with quantum computing while delivering practical solutions that create measurable value for our enterprise customers today. We are entering an exciting new phase of growth and innovation.”
Dr. Florian Neukart, CTO, Terra Quantum
