- The stock price of dMY Technology Group III Inc (NYSE: DMYI) increased by over 26% during intraday trading. This is why it happened.
The stock price of dMY Technology Group III Inc (NYSE: DMYI) increased by over 26% during intraday trading as it went from a previous close of $12.14 to a day high of $15.39. Investors appear to be responding to a Bloomberg report that the special purpose acquisition company (SPAC) is reportedly planning to take quantum computing company IonQ public in a deal that values the combined companies at around $2 billion.
Bloomberg’s sources said that a deal could be announced in the next few weeks. Some of the investors who are in talks to be part of a PIPE deal for IonQ include Silver Lake, MSD Partners, Breakthrough Energy (founded by Bill Gates), and a Hyundai Motor affiliate.
The SPAC is led by Chairman Harry You and CEO Niccolo De Masi. And the SPAC had raised $300 million in November. IonQ was launched by Chris Monroe and Jungsang Kim in 2015.
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