Infleqtion, a developer of impartial atom-based quantum know-how, has agreed to merge with Churchill Capital Corp X (CCCX), a publicly listed particular objective acquisition firm (SPAC).
The merger values Infleqtion at a pre-money fairness valuation of $1.8bn.
Following the completion of the merger, the brand new entity will function underneath the identify Infleqtion.
Infleqtion designs, manufactures, and sells quantum computer systems, precision sensors, and software program to a spread of shoppers, together with authorities businesses, enterprises, and analysis establishments.
The corporate has developed a industrial platform that’s each scalable and cost-effective, enabling it to assist each quantum computing and precision sensing from a unified product structure.
Its choices embody quantum computer systems, quantum clocks, RF receivers, and inertial sensors, all engineered for real-world functions and optimised with Infleqtion’s proprietary software program.
The agency’s programs are already operational inside organisations similar to Nvidia, the US Division of Protection, NASA, and the UK authorities.
As well as, the agency goals to leverage its technological developments to unlock new potentialities throughout varied fields, together with AI, nationwide safety, and supplies science.
Infleqtion CEO and founding investor Matt Kinsella stated: “We have now reached a essential inflection level in our journey from R&D to commercialisation, and this partnership is a testomony to our group’s unbelievable work.”
The transaction is projected to yield greater than $540m in gross proceeds for Infleqtion, which incorporates $416m in money from Churchill X’s belief account as of 30 June 2025, assuming no redemptions, together with greater than $125m in further financing by a typical inventory PIPE from varied institutional traders.
The traders embody Maverick Capital, Counterpoint International (Morgan Stanley), Glynn Capital, BOKA Capital, and LCP Quantum.
CCCX chairman and CEO Michael Klein stated: “Infleqtion stands out with its breakthrough impartial atom platform and confirmed engineering capabilities, already delivering significant influence in quantum computing and sensing.”
Each Infleqtion and Churchill X’s boards of administrators have unanimously endorsed the proposed merger, which is contingent upon approval from Churchill X shareholders, the concurrent PIPE transaction, and the fulfilment of varied customary closing situations.
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