お知らせ • Mar 20
Horizon Quantum Computing Pte. Ltd. completed the acquisition of dMY Squared Technology Group, Inc. (NYSEAM:DMYY) in a reverse merger transaction.
Horizon Quantum Computing Pte. Ltd. entered into a non-binding letter of intent to acquire dMY Squared Technology Group, Inc. (NYSEAM:DMYY) in a transaction valued at approximately $500 million in a reverse merger transaction on February 26, 2025. On September 9, 2025, parties entered into a Business Combination Agreement. Transaction values Horizon Quantum at approximately $503 million. The Aggregate Amalgamation Consideration for Horizon's equityholders (including Horizon Shareholders and SAFE holders) during the Amalgamation will be calculated by taking the total of $503 million and any Horizon Pre-Closing Financing and then dividing that by the Redemption Price (the price at which dMY Public Shares are redeemed). Upon completion, the combined company is expected to be publicly listed. When the transaction closes, the publicly traded company will be named Horizon Quantum Holdings Ltd., and its Class A ordinary shares are expected to be listed on Nasdaq under the ticker “HQ”.
The combined company will be led by Horizon Quantum’s current management team, with Joe Fitzsimons serving as Chief Executive Officer.
The transaction is subject to the completion of due diligence, the negotiation of a definitive agreement providing for the proposed business combination, satisfaction of the conditions negotiated therein, board and equity holder approval, regulatory approvals, and other customary conditions. The execution of definitive agreement is expected to occur in the second quarter of this year, with a closing anticipated before year end. On March 25, 2025, dMY Squared Technology Group, Inc. caused to be deposited an additional $50,000 into the Company’s trust account in connection with the approval by the Company’s board of directors of an extension of the date by which the Company has to consummate an initial business combination by an additional month, from March 29, 2025 to April 29, 2025, the fifteenth of 23 potential one-month extensions available to the Company. On April 29, 2025, dMY Squared extension of the date by which the Company has to consummate an initial business combination by an additional month, from April 29, 2025 to May 29, 2025. On May 29, 2025, dMY Squared extension of the date by which the Company has to consummate an initial business combination by an additional month, from May 29, 2025, to June 29, 2025. On July 28, 2025, dMY Squared board of directors of an extension of the date by which the Company has to consummate an initial business combination by an additional month, from July 29, 2025, to August 29, 2025. On August 28, 2025, dMY Squared Company’s board of directors of an extension of the date by which the Company has to consummate an initial business combination by an additional month, from August 29, 2025, to September 29, 2025. As of September 9, 2025, The Business Combination Agreement and the Business Combination were unanimously approved by the boards of directors of each of dMY and Horizon. The closing of the Business Combination (the “Closing”) is subject to the receipt of the required approvals by dMY’s and Horizon’s shareholders and the satisfaction of other customary closing conditions. The transaction is also subject to approval of new shares on Stock Exchange. The transaction is expected to close in the first quarter of 2026. As of October 22, 2025, Subject to the completion of the SEC review process and satisfaction of customary closing conditions, including the approval of dMY’s and Horizon’s shareholders, Holdco’s Class A ordinary shares and warrants are expected to be listed on the Nasdaq Stock Market under the symbols “HQ” and “HQW” upon the closing of the transaction. Holdco and Horizon filed a registration statement on Form F-4 (File No. 333-292737), which was declared effective by the Securities and Exchange Commission on February 17, 2026. As of March 17, 2026, dMY Squared's shareholders approved the transaction.
Needham & Company, LLC acted as financial advisor for dMY Squared. Adam C. Berkaw and David H. Landau of Ellenoff Grossman & Schole LLP acted as legal counsel for Horizon Quantum. Rajah & Tann Singapore LLP is acting as Singapore legal counsel to Horizon Quantum. Joel Rubinstein, Jonathan Rochwarger, Neeta Sahadev and Daniel Nussen of White & Case LLP are acting as legal counsel to dMY Squared. TCF Law Group, PLLC is acting as Massachusetts legal counsel to dMY Squared. ICR, LLC, is serving as dMY Squared’s strategic communications advisor. Continental Stock Transfer & Trust Company acted as transfer agent for Horizon Quantum. Sodali & Co. acted as an information agent to Horizon Quantum. Pillsbury Winthrop Shaw Pittman LLP acted as legal advisor to Needham & Company, LLC. Horizon has paid $12,500 as advisor fee to Sodali & Co. dMY Squared has agreed to pay Needham a financial advisory fee of $4 million.
Horizon Quantum Computing Pte. Ltd. completed the acquisition of dMY Squared Technology Group, Inc. (NYSEAM:DMYY) in a reverse merger transaction on March 19, 2026.