London-based SPAC to list Terra Quantum on Nasdaq
St.Gallen/London - Terra Quantum from St.Gallen is to become a public company through a merger with Axiom, the London-based special purpose acquisition company (SPAC). Terra Quantum is valued at 3.5 billion US dollars and the initial public offering is expected to raise 190 million US dollars. The company will remain headquartered in St.Gallen.
(CONNECT) Terra Quantum and Axiom Intelligence Acquisition Corp. 1 have finalized a binding agreement to merge. According to a statement from Terra Quantum, the company’s equity was valued at 3.5 billion US dollars. The merger of the St.Gallen-based deep tech company with Axiom – a shell company already listed on the Nasdaq Global Market and tax-exempt in the Cayman Islands with a London address – allows Terra Quantum to take a sort of shortcut compared to a traditional IPO.
In early April 2026, Terra Quantum had announced a merger with another special purpose acquisition company (SPAC), Mountain Lake Acquisition Corp. II, registered in the US state of Nevada. This non-binding agreement would have taken Terra Quantum public with a valuation of 3.25 billion US dollars. However, this deal was rescinded the very next month.
Terra Quantum combines proprietary quantum algorithms, quantum security solutions, hybrid quantum-classical computing technologies and enterprise-grade software platforms. The company serves customers across financial services, manufacturing, pharmaceuticals, logistics, energy, government and defense sectors. According to its CEO Markus Pflitsch, Terra Quantum has “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”.
Axiom’s CEO, Doug Ward, believes that “Terra Quantum stands apart as one of the most advanced and commercially focused quantum technology companies globally”. This creates “a compelling platform for long-term value creation”.
Founded in 2019, the company is headquartered in St.Gallen and, according to the information provided, is expected to remain there after the merger. Terra Quantum also has major operational sites in Germany and the United Kingdom. ce/mm