IonQ surged roughly 16% Monday, beating out quantum rivals Rigetti Computing and D-Wave Quantum after SkyWater Technology investors gave the green light to IonQ's takeover of the U.S. chip foundry. SkyWater shares added around 2.4%.
SkyWater Technology investors signed off on the merger with IonQ Inc, removing a key obstacle from the quantum-computing company’s proposed $1.8 billion acquisition of the U.S. chip foundry. According to a SkyWater filing, roughly 32.6 million shares backed the deal, with just about 405,000 votes against.
IonQ Inc.’s bid to buy SkyWater Technology Inc. has hit another antitrust snag, as the Federal Trade Commission demanded more details from both sides, stretching out the review window, according to a securities filing. The FTC’s request, dated April 24, relates to the proposed deal that would fold SkyWater into IonQ.
IonQ shares climbed 3.8% to $45.01 in premarket trading Tuesday, regaining some ground after an 8.2% drop the day before. The stock’s been volatile since the quantum-computing company announced plans to acquire U.S. chip foundry SkyWater Technology in a roughly $1.8 billion deal.
Shares of IonQ slipped around 1.6% to $46.50 on Monday, following the company’s announcement of a roughly $1.8 billion deal to acquire U.S. chipmaker SkyWater Technology. The stock hit a high of $50.55 earlier in the day before dropping to a session low of $45.77.
IonQ shares climbed Monday following its announcement to acquire U.S. semiconductor foundry SkyWater Technology in a roughly $1.8 billion deal. By 10:17 a.m. ET, IonQ was trading 2.3% higher at $48.33, having earlier reached $50.55. SkyWater’s stock jumped 6.3% to $33.28, after topping out at $34.89.
SkyWater Technology, Inc shares jumped 23.5% on Friday to close at $22.43, after trading between $18.96 and $22.55. The Nasdaq-listed stock ended the week near the top of its 52-week range of $5.67 to $24.23, with volume of about 3.44 million shares.