Terra Quantum Plans US Listing Via SPAC at $3.25 Billion Value

Terra Quantum AG said it plans to combine with a US-listed blank check company in a deal that would value the combined business at $3.25 billion, the latest in a series of quantum computing companies going public through listed vehicles.

The company signed a non-binding letter of intent to combine with Paul Grinberg’s Mountain Lake Acquisition Corp. II, it said in a statement on Thursday. The deal will help the company expand globally and develop new products, said Terra Quantum Chief Executive Officer Markus Pflitsch in the statement.

The proposed deal comes after Terra Quantum — which makes quantum ...