Quantum BioPharma Ltd. ( QNTM ) shares are surging Thursday after its licensee, Celly Nutrition, engaged a New York investment bank to raise up to $10 million and explore a potential U.S. initial public offering.

What To Know: Celly Nutrition, the company behind the beverage unbuzzd, signed a letter of engagement with the investment bank on Feb. 4, 2025. The agreement includes financial advisory services for a potential listing on a major U.S. exchange, either through an IPO, a reverse merger, or another go-public transaction. The bank will also act as the exclusive underwriter for a follow-on public offering of up to $10 million in common stock.

Quantum BioPharma ( QNTM ) holds a 25.71% stake in Celly Nutrition as of June 30, 2024, and is entitled to a 7% royalty on unbuzzd sales until total payments reach $250 million, after which the rate drops to 3% indefinitely. The company also retains full rights to develop similar products for pharmaceutical and medical applications.

Celly Nutrition CEO John Duffy stated the capital raise would help expand unbuzzd's marketing, retail and direct-to-consumer sales efforts following its 2024 U.S. launch. Celly Board Co-Chair Gerry David, former CEO of Celsius Holdings, expressed confidence in the investment bank’s ability to guide the company through the process.

QNTM Price Action: Quantum BioPharma ( QNTM ) shares were up 86.36% at $15.99 at the time of publication Thursday, according to Benzinga Pro.

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