secwatch.observer — SEC 8-K summary
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Issuer:     Real Asset Acquisition Corp. (RAAQ)
CIK:        0002052161
Form:       8-K
Filed at:   2026-05-14T20:18:06+00:00
Accession:  0001213900-26-056647
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2052161/000121390026056647/0001213900-26-056647-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2052161/000121390026056647/ea0290909-8k425_real.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-056647

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