Silicon Valley Acquisition Corp. deal partner EigenQ secures USD 45 million convertible note financing
SVAQ•Use of proceeds and expected timing
Proceeds are earmarked to support EigenQ commercialization, expand delivery capacity, continue R&D, and fund working capital.
The transaction is targeted to close in Q4 2026, pending shareholder approval, regulatory clearances, and customary closing conditions.
Convertible note financing tied to planned business combination
Silicon Valley Acquisition Corp. disclosed a USD 45 million convertible note financing tied to EigenQ’s planned business combination.
- USD 22.5 million was funded upfront.
- The remaining USD 22.5 million is expected to fund at transaction completion.
