IonQ Expected to Begin Trading under the symbol
NYSE: IONQ on October 1, 2021.
Fully committed PIPE with participation from
Fidelity Management & Research Company LLC, Silver Lake,
Breakthrough Energy Ventures, MSD Partners, L.P., Hyundai Motor
Company and Kia Corporation, and key institutional investors.
Business combination with IonQ is expected to
be approved by dMY III stockholders.
dMY Technology Group III (the “Company” or “dMY III”) (NYSE:
DMYI) announced today that its business combination (the “Business
Combination”) with IonQ, a leader in quantum computing, is expected
to be approved at the previously announced meeting of the Company’s
stockholders on September 28, 2021, at 12:00 p.m. Eastern time,
with stockholders representing more than 60% of the Company’s
issued and outstanding shares having submitted proxies, of which
shares representing more than 96% have indicated a vote in favor of
the combination and the adoption of the related proposals. Upon the
closing of the Business Combination (the “Closing”), IonQ expects
to receive in excess of $600 million of gross proceeds, reflecting
redemptions of Company units in the single-digit percentile by the
Company’s stockholders prior to the redemption deadline, which
occurred Friday, September 24th at 5:00 p.m. Eastern time.
“The era of quantum computing has arrived, and IonQ is leading
the way with our revolutionary trapped ion technology,” said Peter
Chapman, President and CEO on IonQ. “We are proud to have tripled
our bookings expectations for 2021, and are further thrilled to
have recently struck market-making collaborations with Goldman
Sachs, Fidelity Center for Applied Technology, GE Research and the
University of Maryland. In addition, since March we have announced
a host of partnerships across the leading cloud providers, making
IonQ the only quantum computing company with cloud partnership
across each of Amazon, Google and Microsoft and providing unmatched
access to the top quantum programmers in the world. I want to thank
the entire IonQ team for their tireless effort and look forward to
continuing to pave the future of quantum computing.”
IonQ is a leader in quantum computing, utilizing a trapped-ion
approach to create the world’s most powerful quantum computers.
IonQ employs some of the world’s foremost talent in quantum,
including Co-Founders Dr. Jungsang Kim and Dr. Chris Monroe, who
have both been named to the National Quantum Initiative Advisory
Committee to the White House and have been trailblazers in the
world of quantum computing for decades. IonQ is dedicated to making
quantum computing not just the technology of the future, but
increasingly, the cutting-edge technology of today.
Subject to a final stockholder vote and the satisfaction or
waiver of the other customary closing conditions, dMY III
anticipates closing the Business Combination on September 30, 2021.
In connection with the Closing, the Company will change its name to
IonQ, Inc. and the combined company’s shares of common stock and
public warrants are expected to trade on the New York Stock
Exchange beginning on October 1, 2021 under the ticker symbols
“IONQ” and “IONQ.WS,” respectively.
About dMY Technology Group III.
dMY III. is a special purpose acquisition company founded by
Niccolo de Masi and Harry You for the purpose of effecting a
merger, capital share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more
businesses.
About IonQ
IonQ, Inc. is a leader in quantum computing, with a proven track
record of innovation and deployment. IonQ’s next-generation quantum
computer is the world’s most powerful trapped-ion quantum computer,
and IonQ has defined what it believes is the best path forward to
scale. IonQ is the only company with its quantum systems available
through the cloud on Amazon Braket, Microsoft Azure, and Google
Cloud, as well as through direct API access. IonQ was founded in
2015 by Christopher Monroe and Jungsang Kim based on 25 years of
pioneering research. To learn more, visit www.ionq.com.
ADDITIONAL LEGAL INFORMATION
Important Information About the Merger and Where to Find It
This communication may be deemed solicitation material in
respect of the proposed business combination between dMY III and
IonQ (the “Business Combination”). The Business Combination has
been submitted to the stockholders of dMY III and IonQ for their
approval. In connection with the vote of dMY’s stockholders, dMY
III Technology Group, Inc. III has filed relevant materials with
the SEC, including a registration statement on Form S-4, which
includes a proxy statement/prospectus. This communication does not
contain all the information that should be considered concerning
the proposed Business Combination and the other matters to be voted
upon at the annual meeting and is not intended to provide the basis
for any investment decision or any other decision in respect of
such matters. dMY III’s stockholders and other interested parties
are urged to read the definitive proxy statement, dated August 12,
2021 and any other relevant documents that are filed or furnished
or will be filed or will be furnished with the SEC carefully and in
their entirety in connection with dMY III’s solicitation of proxies
for the special meeting to be held to approve the Business
Combination and other related matters, as these materials will
contain important information about IonQ and dMY III and the
proposed Business Combination. On or about August 12, 2021, dMY III
mailed the definitive proxy statement/prospectus and a proxy card
to each stockholder entitled to vote at the special meeting
relating to the transaction. Such stockholders are also be able to
obtain copies of these materials, without charge at the SEC’s
website at http://www.sec.gov, at the Company’s website at
https://www.dmytechnology.com/ or by written request to dMY
Technology Group, Inc. III, 11100 Santa Monica Blvd., Suite 2000,
Los Angeles, CA 90025.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may be made directly in this
communication. Some of the forward-looking statements can be
identified by the use of forward-looking words. Statements that are
not historical in nature, including the words “anticipate,”
“expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,”
“targets,” “projects,” “should,” “could,” “would,” “may,” “will,”
“forecast” and other similar expressions are intended to identify
forward-looking statements. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to: (i) the risk that the transaction may not be completed
in a timely manner or at all, which may adversely affect the price
of dMY’s securities; (ii) the risk that the transaction may not be
completed by dMY’s business combination deadline and the potential
failure to obtain an extension of the business combination deadline
if sought by dMY; (iii) the failure to satisfy the conditions to
the consummation of the transaction, including the approval of the
merger agreement by the stockholders of dMY, the satisfaction of
the minimum trust account amount following any redemptions by dMY's
public stockholders and the receipt of certain governmental and
regulatory approvals; (iv) the lack of a third-party valuation in
determining whether or not to pursue the proposed transaction; (v)
the inability to complete the PIPE transaction; (vi) the occurrence
of any event, change or other circumstance that could give rise to
the termination of the merger agreement; (vii) the effect of the
announcement or pendency of the transaction on IonQ’s business
relationships, operating results and business generally; (viii)
risks that the proposed transaction disrupts current plans and
operations of IonQ; (ix) the outcome of any legal proceedings that
may be instituted against IonQ or against dMY related to the merger
agreement or the proposed transaction; (x) the ability to maintain
the listing of dMY’s securities on a national securities exchange;
(xi) changes in the competitive industries in which IonQ operates,
variations in operating performance across competitors, changes in
laws and regulations affecting IonQ’s business and changes in the
combined capital structure; (xii) the ability to implement business
plans, forecasts and other expectations after the completion of the
proposed transaction, and identify and realize additional
opportunities; (xiii) the risk of downturns in the market and the
technology industry including, but not limited to, as a result of
the COVID-19 pandemic; and (xiv) costs related to the transaction
and the failure to realize anticipated benefits of the transaction
or to realize estimated pro forma results and underlying
assumptions, including with respect to estimated stockholder
redemptions. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in the “Risk Factors” section of the
registration statement on Form S-4 and other documents filed by dMY
from time to time with the SEC. These filings identify and address
other important risks and uncertainties that could cause actual
events and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and dMY and IonQ
assume no obligation and do not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Neither dMY nor IonQ gives any
assurance that either dMY or IonQ, or the combined company, will
achieve its expectations.
No Offer or Solicitation
This communication is for informational purposes only and does
not constitute an offer or invitation for the sale or purchase of
securities, assets or the business described herein or a commitment
to the Company or the IonQ with respect to any of the foregoing,
and this communication shall not form the basis of any contract,
nor is it a solicitation of any vote, consent, or approval in any
jurisdiction pursuant to or in connection with the Business
Combination or otherwise, nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in contravention of
applicable law.
Participants in Solicitation
dMY III and IonQ, and their respective directors and executive
officers, may be deemed participants in the solicitation of proxies
of dMY III’s stockholders in respect of the Business Combination.
Information about the directors and executive officers of dMY III
is set forth in the Company’s Form dMY III’s filings with the SEC.
Information about the directors and executive officers of IonQ and
more detailed information regarding the identity of all potential
participants, and their direct and indirect interests by security
holdings or otherwise, are set forth in the definitive proxy
statement/prospectus for the Business Combination. Additional
information regarding the identity of all potential participants in
the solicitation of proxies to dMY III’s stockholders in connection
with the proposed Business Combination and other matters to be
voted upon at the special meeting, and their direct and indirect
interests, by security holdings or otherwise, are included in the
definitive proxy statement/prospectus.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210927005262/en/
IonQ Media contact: Mission North ionq@missionnorth.com
IonQ Investor Contact: Michael Bowen and Ryan Gardella
IonQIR@icrinc.com
dMY III Investor Contact: Niccolo de Masi dMY Technology Group,
Inc. III niccolo@dmytechnology.com 310-600-6667
dMY III Media Contact: ICR Inc. dmypr@icrinc.com
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