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Insider Brief
- EigenQ has secured approximately $45 million in convertible-note financing to support commercialization of its quantum-safe security and trusted-infrastructure products ahead of its proposed Nasdaq listing.
- About $22.5 million was funded upfront, with the remainder expected at completion of EigenQ’s planned merger with Silicon Valley Acquisition Corp., which is targeted for the fourth quarter of 2026.
- EigenQ said it will use the proceeds for product delivery, research and development, partner-led expansion and working capital, with early market efforts focused on government, defense and critical infrastructure.
PRESS RELEASE — EigenQ, Inc. (“EigenQ”), an applied quantum technology company building the trusted infrastructure for the Quantum Era, and Silicon Valley Acquisition Corp. (“SVAQ”) (Nasdaq: SVAQ ), a publicly traded special purpose acquisition company, today announced that EigenQ has entered into a securities purchase agreement (the “Purchase Agreement”) with an institutional investor providing financing to support EigenQ’s commercialization plans.
The financing is comprised of approximately $45 million in the form of a convertible note, of which approximately $22.5 million was funded upfront with the remaining expected to fund at completion of the previously announced Business Combination between EigenQ and SVAQ. EigenQ expects to use the net proceeds of the financing to accelerate commercialization of its quantum-safe security portfolio, expand delivery capacity alongside its OEM and channel partners, continue R&D across quantum security, communications, networking and sensing, and for working capital and general corporate purposes.
Dr. José R. Rosas-Bustos, Chief Executive Officer of EigenQ. “Today’s announcement is a major milestone for EigenQ. It represents an important endorsement of what we have already built and our ability to bring together exceptional partners and institutions to participate in our story. This investment accelerates our mission to offer quantum solutions that can add significant value to companies in the post quantum world.”
Dr. Jesse Van Griensven Thé, Chairman of EigenQ, added, “We believe that our key strategic decisions of undertaking a capital-light approach through partnerships and building sustainable operations with optimal capital deployment have led us to our first institutional capital raise. We are excited to bring the EigenQ story to the public markets as this financing full funds us through cash flow breakeven.”
Dan Nash, Chief Executive Officer of SVAQ, said, “We believe that the quantum technology market represents a generational opportunity and EigenQ is well positioned to capture it. We remain excited to partner with this leadership team who brings exceptional quantum expertise and the new investor as EigenQ moves towards the public markets.”
Building the Quantum Era Infrastructure
- EigenQ develops quantum technologies designed to address critical challenges spanning cybersecurity, digital trust, AI infrastructure, communications, sensing, and advanced computing. Through a growing portfolio of intellectual property, strategic partnerships, and commercial products, EigenQ is building technologies intended to support multiple segments of the emerging quantum economy.
- While the Company’s initial commercialization efforts are focused on quantum-resilient security and trusted infrastructure, EigenQ’s broader vision extends across a range of quantum-enabled technologies expected to shape future government, enterprise, industrial, and national-security systems.
Commercial Momentum and Anticipated Execution
- EigenQ has focused on innovation and commercialization, translating years of research and development into deployable, market-ready solutions that are aligned with current regulatory requirements, customer needs, and procurement frameworks.
- EigenQ has established strategic collaborations with leading global technology partners including HPE, AMD, WNC, and TD SYNNEX. Importantly, the Company has established pathways for technology integration, manufacturing scale, distribution, and deployment across both public and private sector environments. These technologies are designed to reduce barriers to implementation.
- Initial commercialization efforts are focused on government, defense, and critical infrastructure markets, where regulatory requirements and security mandates are creating immediate demand. Subsequently, the Company expects to expand across enterprise infrastructure, artificial intelligence platforms, financial services, telecommunications, healthcare, industrial systems, and international markets.
Major Strategic Collaborations
- TD SYNNEX & AMD: Announced a collaboration to help organizations evaluate and prepare AMD EPYC processor-based server environments for post-quantum security migration and phased infrastructure modernization.
- WNC Corporation: Partnered to accelerate volume production and go-to-market strategies for quantum-safe servers, appliances, and edge devices.
- HPE & Intel Ecosystem: Aligned technology integrations to support platform retrofitting, secure workload protection, and cryptographic agility across enterprise and public sectors.
The Business Combination
- EigenQ announced a definitive business combination agreement with Silicon Valley Acquisition Corp. valuing the combined company at an estimated $3 billion enterprise value that would take the quantum technology company public on Nasdaq Global Market under the ticker symbol “EIGQ”, subject to shareholder approval, regulatory approvals and other customary closing conditions.
- The Business Combination Agreement has been unanimously approved by the Board of Directors of SVAQ and the Board of Directors of EigenQ.
- The proposed transaction, expected to close in the fourth quarter of 2026 pending shareholder and regulatory approvals, would provide EigenQ with additional access to capital while existing shareholders are expected to retain significant ownership stakes.
Advisors
Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, is serving as Exclusive Financial Advisor, Lead Capital Markets Advisor and Sole Placement Agent to EigenQ. Ellenoff Grossman & Schole LLP is acting as legal counsel to EigenQ, Greenberg Traurig, LLP is acting as legal counsel to SVAQ and Reed Smith LLP is acting as legal counsel to Cohen & Company Securities, LLC. The Blueshirt Group is providing investor relations advisory services to EigenQ and AUM Media is providing investor relations advisory services to SVAQ.