Horizon Quantum Achieves Major Milestones as Business Combination with dMY Nears Completion

Key Highlights for Investors

• Oversubscribed PIPE Financing Surpasses Expectations: Horizon Quantum Computing Pte. Ltd. (“Horizon”), a leading provider of quantum software infrastructure, has more than doubled its original PIPE (Private Investment in Public Equity) financing target of \$50 million. Strategic investors in this PIPE include quantum leader IonQ, a Fortune 50 technology company, and several top institutional investors. The increased funding is expected to accelerate research and development, enhance Horizon’s hardware testbed, and advance the company’s Triple Alpha quantum software platform.
• World-Class Board Appointments Announced: Horizon Quantum Holdings Ltd., which will become the holding company post-combination, is set to welcome several high-profile board members:
  • Danielle Lambert – Former VP of Human Resources at Apple and a founding advisor/investor at Nest Labs.
  • Peter Oey – Current CFO of Grab, former CFO of LegalZoom.com and MyLife.com, and ex-Activision Blizzard finance leader.
  • Jill Turner – Chief Human Resources Officer of Broadcom, with prior executive roles at Honeywell and Lumen Technologies.
  • Harry You – Chairman of dMY, Broadcom board member, former Lead Independent Director at IonQ, and ex-CFO at Accenture and Oracle.
• Industry-First Hardware Integration Testbed: Horizon is the first quantum software company to own and operate a quantum computer, with a fully integrated system at its Singapore headquarters. This testbed gives Horizon complete control over both hardware and software, providing a unique platform for rapid innovation.
• Strategic Fault-Tolerant Quantum Computing Partnership: Horizon has initiated a collaboration with Alice & Bob, a leader in fault-tolerant quantum computers, to integrate cat qubit emulators into the Triple Alpha platform. This positions Horizon to be among the first to deploy quantum error correction tasks, a key step toward scalable, fault-tolerant quantum computing.
• Launch of Beryllium Quantum Programming Language: Horizon introduced Beryllium, an object-oriented, hardware-agnostic language designed for efficient quantum application development. It complements the existing Helium and Hydrogen languages, supporting advanced features like pulse-level control and direct hardware execution.
• Upcoming Shareholder Vote and Transaction Timeline: dMY Squared will host a special shareholder meeting on March 17, 2026, to vote on the merger. If approved, the transaction is expected to close within Q1 2026.
• Live Investor Event: Horizon will host a live X Spaces conversation on March 10, featuring CEO Dr. Joe Fitzsimons and IonQ CEO Niccolo de Masi, to discuss strategic investments and Horizon’s role in the quantum industry.

Potentially Price-Sensitive Information for Shareholders

• Substantial PIPE Oversubscription: The PIPE financing, now more than double the original target, suggests strong investor confidence and provides Horizon with significant capital to execute its growth strategy. The participation of industry leaders like IonQ and a Fortune 50 company may be seen as a validation of Horizon’s technology and market potential.
• Major Board Appointments: The addition of high-profile board members with deep experience in technology, finance, and human resources is expected to enhance governance and strategic direction. This could be viewed positively by the market.
• Hardware Integration and Industry Partnerships: Owning and operating a quantum computer—an industry first for a software company—and the collaboration with Alice & Bob on fault-tolerant quantum computing are significant technical achievements that may accelerate Horizon’s competitive advantage and commercialization timeline.
• New Quantum Programming Language: The launch of Beryllium expands Horizon’s product suite and may attract broader developer adoption, supporting the company’s mission to bridge classical and quantum computing.
• Shareholder Vote and Transaction Close: The upcoming vote and anticipated closing of the business combination are critical events that will determine Horizon’s public market debut and future access to capital.
• Forward-Looking Risks: The company notes several risk factors, including the potential for transaction delays, changes in transaction structure, integration challenges, legal proceedings, and the ability to maintain exchange listings. Investors should review these risks in detail.

Comprehensive Details for Investors

Horizon Quantum Computing, founded in 2018 by renowned quantum computing researcher Dr. Joe Fitzsimons, is focused on building advanced software infrastructure to unlock the potential of quantum computing for real-world applications. Its Triple Alpha platform enables developers to create sophisticated, hardware-agnostic quantum programs at multiple levels of abstraction.

The company’s recent achievements—especially the oversubscription of its PIPE financing and the assembly of a proprietary quantum testbed—underscore its momentum and readiness for public markets. The collaboration with Alice & Bob and the launch of Beryllium further position Horizon at the forefront of quantum software innovation.

The upcoming business combination with dMY Squared Technology Group, Inc. (OTC: DMYY, DMYYU, DMYYW) is a pivotal moment for the company. Shareholders are encouraged to review the definitive proxy statement and all SEC filings to understand the implications of the merger and related transactions.

With these milestones, Horizon Quantum is well positioned to capture value in a rapidly advancing sector and deliver long-term returns for its shareholders, pending successful completion of the merger and execution of its strategy.

Investor and Media Contacts

• Investor Relations: Katherine Bailon – [email protected]
• Media Inquiries: Yanina Blaclard – [email protected]

Disclaimer

This article contains forward-looking statements that involve risks and uncertainties including, but not limited to, the completion of the business combination, integration challenges, market adoption, and other factors described in Horizon Quantum’s and dMY’s SEC filings. Actual results may differ materially. This article does not constitute investment advice, an offer or solicitation to buy or sell any securities, or a recommendation regarding any securities of any entity. Investors should conduct their own due diligence and consult their financial advisors before making any investment decisions.

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