Existing shareholders at EigenQ plan to roll their entire equity stake into the new firm, maintaining a significant controlling interest under the company's current name. The transaction follows Silicon Valley Acquisition’s initial public offering in December, which raised capital through 20 million units.

EigenQ currently builds hardware and software tailored to neutralize threats posed by advanced quantum computing. The company’s market position is bolstered by strategic partnerships with Hewlett Packard Enterprise and Advanced Micro Devices. Silicon Valley Acquisition now moves to present the merger terms to its shareholders for final consideration.