EigenQ, Silicon Valley Acquisition Corp. secure USD 45 million convertible note financing for commercialization plans
SVAQ•Use of proceeds
Proceeds are earmarked for commercialization of quantum-safe security products, capacity expansion with partners, ongoing R&D, and working capital.
Convertible note financing for EigenQ
EigenQ signed a securities purchase agreement with an institutional investor for about $45 million of convertible note financing.
- $22.5 million funded upfront.
- The remaining amount is expected to fund at completion of EigenQ’s planned business combination with Silicon Valley Acquisition Corp.
