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Terra Quantum, a Swiss quantum technology company, signed a definitive business combination agreement with Axiom Intelligence Acquisition Corp 1 to go public on Nasdaq at an equity valuation of approximately $3.5 billion. The deal represents a swift upgrade from a $3.25 billion non-binding letter of intent the company had inked with a different SPAC, Mountain Lake Acquisition Corp II, just one month earlier.
The merged entity is expected to trade under the ticker symbol “TQ” on Nasdaq in the second half of 2026, pending shareholder approvals and customary regulatory conditions.
The deal mechanics
Axiom Intelligence Acquisition Corp 1, trading on Nasdaq under the symbol AXINU since its June 2025 IPO, is a special purpose acquisition company. In this case, Axiom’s trust account could deliver approximately $190 million in gross proceeds to the combined company, assuming no shareholders redeem their shares.
Existing Terra Quantum shareholders will roll 100% of their equity into the new public entity, maintaining roughly 92% ownership after closing.
Axiom CEO Doug Ward pointed to Terra Quantum’s commercial traction as a key factor, noting the company’s position as one of the most commercially advanced players in the quantum sector following extensive due diligence.
Who is Terra Quantum
Headquartered in St. Gallen, Switzerland, Terra Quantum is led by CEO and founder Markus Pflitsch, CTO Dr. Florian Neukart, and CFO Dr. Eike Marx. The company’s focus spans quantum algorithms and software, hybrid quantum-classical computing solutions, and quantum security.
Its target markets include defense, finance, pharmaceuticals, and logistics.
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