dMY Squared Completes Merger with Horizon Quantum, Lists on Nasdaq dMY Squared Technology Group, Inc. finalized its merger with Horizon Quantum Computing on March 19, 2026, creating a new publicly traded entity under the name Horizon Quantum Holdings Ltd. The transaction saw Horizon Quantum Computing become a wholly owned subsidiary of Holdco, while dMY Squared transitioned into a subsidiary of Holdco. The merged company’s Class A ordinary shares and warrants began trading on Nasdaq under the symbols “HQ” and “HQWWW” on March 20, 2026. As part of the deal, 1,403,777 SPAC public shares were redeemed at approximately $11.82 per share, totaling around $16.47 million in cash returned to shareholders. The warrants were amended to reference Holdco’s Class A ordinary shares, and a change in control occurred, with Holdco now overseeing dMY Squared. A new board of directors and management team was appointed at Horizon, including Joseph Fitzimons as CEO, Si-Hui Tan as Chief Science Officer, and Greg Gould as CFO. The merger was structured through a business combination agreement signed in September 2025, which involved the conversion of Holdco from a Singapore private company to a public entity. Horizon and Merger Sub 1 amalgamated, with Horizon surviving as a subsidiary of Holdco, while Merger Sub 2 merged with dMY Squared, which became a wholly owned subsidiary of Holdco. The transaction marked a significant shift for dMY Squared, transforming it from a standalone SPAC into a subsidiary of a publicly traded entity. The deal’s financial details, including remaining non-redeemed SPAC capital and other financing terms, were not disclosed in the filing. Future filings, such as Holdco’s Form 20-F for the business combination, will provide additional financial and operational details.#nasdaq #dmy_squared_technology_group #horizon_quantum_computing #holdco #joseph_fitzimons
dMY Squared Technology Group 2025 10-K: Zero Revenue, $17.8M Net Loss dMY Squared Technology Group disclosed no operating revenue for the fiscal year ending December 31, 2025, and recorded a net loss of $17.8 million. The loss was primarily attributed to a $14.3 million fair value loss on derivative warrant liabilities. The company continues to operate as a blank-check sponsor, with its primary focus on finalizing a previously announced business combination with Horizon. The merger is expected to close in March 2026 after meeting remaining conditions. The filing highlights that the company did not present earnings per share or typical operating metrics in Item 7. Its financials for the year show no revenue, with operating-related expenses including general and administrative costs of $4.4 million. The net loss of $17.8 million reflects the significant impact of the derivative warrant liabilities. The business combination with Horizon has progressed to a definitive share purchase agreement, with shareholder approval already secured. The company remains committed to completing the merger and has initiated integration planning. However, it has not yet commenced any operating activities as of December 31, 2025, with all efforts centered on the transaction. To manage capital, the company transferred trust account funds previously held for the merger and potential redemptions into an interest-bearing bank account. This move aims to reduce investment company risk. Additionally, the company has entered intoPIPE commitments totaling approximately $111.9 million and a strategic side-letter with IonQ to support post-merger liquidity and governance. The company’s securities were delisted from the NYSE American and now trade on OTC markets, which may affect liquidity and investor access.#horizon #dmy_squared_technology_group #nyse_americam #ionq #pipe_commitments
