EigenQ Secures $45M Financing Ahead of $3B SPAC Merger with SVAQ
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Austin, Texas – – September 19, 2026 -- EigenQ, Inc. has secured approximately $45 million in convertible note financing from an institutional investor to fund commercialization of its quantum-safe security portfolio ahead of a planned public listing on Nasdaq.
Institutional investor funds $22.5 million upfront, remainder tied to SPAC closing
Of the total financing, roughly $22.5 million was funded immediately, with the balance expected to be released upon completion of EigenQ's previously announced business combination with Silicon Valley Acquisition Corp. (Nasdaq: SVAQ). EigenQ said the proceeds will accelerate commercialization, expand delivery capacity with OEM and channel partners, fund R&D across quantum security, communications, networking and sensing, and support working capital needs.