EigenQ Inc. and Silicon Valley Acquisition Corp. (NASDAQ: SVAQ) have publicly filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission to advance their proposed business combination. The filing marks a critical procedural milestone for the deal, which aims to list EigenQ on the Nasdaq under the ticker EIGQ.

The transaction involves SVAQ domesticating as a Delaware corporation and renaming itself EigenQ Holdings, Inc. Following the merger, EigenQ will operate as a wholly owned subsidiary of the new public entity. The companies expect the business combination to close in the fourth quarter of 2026, subject to SEC effectiveness, shareholder approvals, and customary closing conditions.

Financing and strategic focus

Earlier in September 2026, EigenQ secured approximately $45 million in convertible financing, with half of the capital already funded. This capital is designated for commercializing its quantum-safe security portfolio and developing products across security, communications, networking, and sensing.

EigenQ positions itself as an applied quantum technology company focused on hardware-rooted trust infrastructure. Its initial commercial efforts target cybersecurity technologies using post-quantum cryptography and quantum-derived entropy for governments and enterprises.

Transaction structure and listing details

SVAQ has applied to list the new company's common stock and public warrants on the Nasdaq Global Market. The proposed ticker symbols are EIGQ for common stock and EIGQW for warrants. The source notes that there is no condition to closing that requires the public warrants to be approved for listing, nor is there assurance they will be listed on any exchange.

What the numbers show

The disclosure reveals a dependency on external capital to bridge the gap between development and commercialization. With only approximately half of the $45 million convertible financing currently funded, EigenQ relies on the remaining tranche and the proceeds from the SPAC merger to scale its operations. This structure highlights a pre-revenue or early-revenue stage where liquidity events are pivotal for sustaining product development cycles in the capital-intensive quantum sector.

EigenQ, Inc. has secured approximately $45 million in convertible note financing from an institutional investor to support its commercialization plans. The funding arrives as the applied quantum technology company prepares for its proposed business combination with Silicon Valley Acquisition Corp. (NASDAQ: SVAQ).

The financing structure involves an upfront payment of approximately $22.5 million. The remaining balance is expected to be funded upon the completion of the previously announced merger between EigenQ and SVAQ.

Use of Proceeds

EigenQ plans to deploy the net proceeds toward several strategic initiatives. These include accelerating the commercialization of its quantum-safe security portfolio and expanding delivery capacity alongside OEM and channel partners. The company will also continue research and development across quantum security, communications, networking, and sensing. Additional funds will support working capital and general corporate purposes.

The Business Combination

The financing supports the definitive business combination agreement with Silicon Valley Acquisition Corp. The transaction values the combined entity at an estimated $3 billion enterprise value. Upon completion, the quantum technology company will trade on the Nasdaq Global Market under the ticker symbol "EIGQ".

The deal is subject to shareholder approval, regulatory approvals, and other customary closing conditions. Both boards have unanimously approved the Business Combination Agreement.

Transaction Timeline and Terms

The proposed transaction is expected to close in the fourth quarter of 2026. This timeline remains pending necessary shareholder and regulatory approvals. The combination aims to provide EigenQ with additional access to capital markets while allowing existing shareholders to retain significant ownership stakes in the public company.