and other technology development as it moves toward a planned public listing.
About $22.5 million of the financing was funded upfront, while the remaining amount is expected to become available when EigenQ completes its proposed business combination with Silicon Valley Acquisition Corp., a Nasdaq-listed special purpose acquisition company, or SPAC.
The companies announced their merger agreement earlier this year, valuing the combined business at an estimated $3 billion enterprise value. If approved by shareholders and regulators, the transaction is expected to close in the fourth quarter of 2026, and the combined company would trade on the Nasdaq Global Market under the ticker EIGQ.
EigenQ to Expand
EigenQ said the new capital will be used to expand delivery capacity with original equipment manufacturer and channel partners, continue research and development, and provide working capital. Its initial commercial focus is quantum-resilient cybersecurity and infrastructure designed to help organizations prepare for cryptographic systems that could be threatened by future quantum computers.
The company said it also plans to pursue work in quantum communications, networking and sensing, although those areas appear to be earlier-stage parts of its business.
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.”
Convertible Note
The financing is structured as a convertible note, meaning the investment can be converted into shares under specified terms. Such financing can provide a company capital before or alongside a public-market transaction, but its eventual effect on existing shareholders depends on the conversion terms and the final structure of the SPAC deal.
EigenQ has identified government, defense and critical-infrastructure customers as early targets, citing rising requirements for organizations to prepare for post-quantum cryptography. It also said it intends to expand into enterprise infrastructure, artificial intelligence platforms, financial services, telecommunications, healthcare and industrial markets.
The company listed collaborations with technology and distribution partners including HPE, AMD, WNC and TD SYNNEX. Its work with TD SYNNEX and AMD is aimed at helping organizations assess AMD EPYC server environments for post-quantum migration, while its partnership with WNC concerns potential production and go-to-market activity for quantum-safe servers, appliances and edge devices.
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.”
The proposed listing and remaining financing are subject to the completion of the business combination and customary approvals.
