Terra Quantum valued at 3.25 billion US dollars ahead of listing
St.Gallen/Incline Village - Terra Quantum is to be listed on the Nasdaq stock exchange in New York following a merger with an already listed shell company. The Letter of Intent, which has now been signed, values the St. Gallen-based quantum technology company at 3.25 billion US dollars.
(CONNECT) Terra Quantum is set to be listed on the Nasdaq through a merger with an already listed shell company. As Terra Quantum, which is headquartered in St.Gallen and specializes in the field of quantum technology, has now announced, it has signed a non-binding Letter of Intent to this end with Mountain Lake Acquisition Corp. II (MLAC II), a Special Purpose Acquisition Company (SPAC) based in the US State of Nevada.
Upon completion of the transaction, which bypasses the protracted process of a traditional IPO, Terra Quantum will be valued at 3.25 billion US dollars. According to the statement, the planned transaction reflects the “strong confidence in Terra Quantum’s differentiated quantum algorithms, software, quantum security, and hybrid quantum-classical solutions, as well as its commercial traction across multiple industries including defense, finance, pharmaceuticals, and logistics”. Paul Grinberg, Chairman and Chief Executive Officer of MLAC II, adds: “We believe Terra Quantum is uniquely positioned at the forefront of the quantum revolution which also has a management team with distinguished backgrounds in both science and the commercialization of technology”.
Seven years ago, the company was launched “with a bold belief: that quantum technology is not a distant promise but something that can shape our world today”, according to a personal statement issued by founder and CEO Markus Pflitsch. “That belief was not always easy to hold. It meant going against the noise, building when others doubted and believing when there was no tangible proof, only vision”, he adds. Seeing the name of his company depicted on a Nasdaq billboard in Times Square in New York is “deeply personal and much more than a business achievement. Because behind every line of code, every algorithm, every breakthrough… there were years of resilience, sleepless nights, and unwavering conviction”.
Alongside Pflitsch, the company is led by Chief Technology Officer Prof. Dr. Florian Neukart and Chief Financial Officer and Head of Strategy Dr. Eike Marx. It was only in June 2025 that Chief Business Officer Martin Hofmann, former Head of IT at the VW Group, was dismissed after only six months in the role. ce/mm