Mentioned:
There’s a new quantum computing company coming to Wall Street. And they’re focused on building the next generation of quantum-resilient security technology.
What’s happening:
- Quantum security company EigenQ has entered into a business combination with Silicon Valley Acquisition Corp (NASDAQ: SVAQ) to become a publicly traded company on the Nasdaq
By the numbers:
- The new SPAC deal values EigenQ at roughly $3B USD
Why it matters:
- EigenQ is focused on quantum-resilient security infrastructure and has existing contracts with Hewlett Packard Enterprise Company (NYSE: HPE), AMD (NASDAQ: AMD) and other large technology companies
Going deeper:
- EigenQ has publicly stated that they are one of the first quantum computing companies to successfully delivery military level post-quantum security systems that are FIPS 203 and FIPS 204 certified
- Silicon Valley Acquisition Corp raised roughly $215M USD in their IPO financing round and was founded by Daniel Nash who previously completed more than 50 different successful SPAC deals at Cohen & Company Capital Markets
