---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-056647"
form_type: "8-K"
ticker: "RAAQ"
cik: "0002052161"
company_name: "Real Asset Acquisition Corp."
filed_at: "2026-05-14T20:18:06+00:00"
generated_at: "2026-05-14T20:19:16.617882+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# IQM files F-4 for SPAC merger with RAAQ; pre-money valuation ~$1.8B, 2025 revenue $36M

## Summary
- Pre-money equity valuation of IQM approximately USD 1.8 billion.
- At close, IQM's cash position expected up to EUR 397M (USD 465M) from trust, PIPE, warrant exercises, and existing cash.
- IQM reported 2025 revenue of USD 36M (EUR 31M); has sold 23 systems and delivered 15.
- PIPE financing of ~$134M at $10.00/share; trust account holds ~$175M (assuming no redemptions).
- IQM intends to list on Nasdaq under 'IQMX' and apply for dual listing on Nasdaq Helsinki.

## SEC filing metadata
- accession: 0001213900-26-056647
- form_type: 8-K
- ticker: RAAQ
- cik: 0002052161
- company_name: Real Asset Acquisition Corp.
- filed_at: 2026-05-14T20:18:06+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2052161/000121390026056647/0001213900-26-056647-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2052161/000121390026056647/ea0290909-8k425_real.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-056647
- JSON: https://secwatch.observer/filing/0001213900-26-056647.json
- Plain text: https://secwatch.observer/filing/0001213900-26-056647.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.