Infleqtion and Churchill Capital Corp X Complete Business Combination

Key Terms

special purpose acquisition company financial

A special purpose acquisition company (SPAC) is a company formed with the sole purpose of raising money through a public offering to buy or merge with an existing private business. It acts like a vehicle that allows private companies to go public more quickly and with less complexity. For investors, it offers an opportunity to invest early in a potential acquisition, though it also carries risks if the intended deal doesn’t materialize.

warrants financial

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

units financial

Units are bundled securities sold as one package in a financing—commonly a share paired with an instrument that gives the holder the right to buy more shares later. For investors this matters because a unit’s extra component can change future supply of shares and potential returns, similar to buying a combo with a coupon that can be redeemed later and alter what you actually receive and what others might own.

neutral-atom technology technical

Neutral-atom technology uses individually trapped, electrically neutral atoms as the basic units for storing and manipulating information, typically held in place and controlled by light or magnetic fields. Investors should care because this approach aims to build highly scalable, precise quantum devices and sensors that could enable new computing power and measurement capabilities; like arranging beads on a board, progress milestones and manufacturing scalability drive long-term value and risk.

quantum computers technical

Quantum computers are a new type of computer that use the odd behavior of tiny particles to process information in ways classical computers cannot, allowing them to test many possibilities at once—think of trying many keys on a lock simultaneously instead of one by one. For investors, they matter because they could dramatically speed up tasks like drug discovery, materials design, complex logistics and code-breaking, reshaping competitive advantage, costs and risks across industries.

rf receivers technical

RF receivers are electronic devices that pick up radio-frequency signals—such as wireless data, broadcast radio, or radar echoes—and convert them into usable information. Think of them as the ears in wireless systems: they determine how clearly and reliably a device can hear a transmission amid background noise. Investors care because RF receiver performance drives demand, product differentiation, regulatory compliance, and revenue potential in sectors like telecommunications, consumer electronics, and defense.

Infleqtion to become the first publicly listed neutral-atom quantum technology company and will begin trading on the NYSE under ticker symbol “INFQ” on February 17, 2026

NEW YORK--(BUSINESS WIRE)-- Infleqtion, Inc. (“Infleqtion”), a global leader in quantum sensing and quantum computing powered by neutral-atom technology, today announced the completion of its previously announced business combination with Churchill Capital Corp X (Nasdaq: CCCX) (“Churchill X”), a special purpose acquisition company.

Churchill X, whose shares of common stock, warrants and units were listed on The Nasdaq Stock Market LLC (“Nasdaq”) has delisted from Nasdaq, and shares of common stock and warrants of the post‑combination company, Infleqtion, Inc., are expected to begin trading on the New York Stock Exchange (“NYSE”) beginning on February 17, 2026, under the ticker symbols “INFQ” and “INFQ WS”, respectively. Each of the units sold by Churchill X in its initial public offering have been separated and will no longer be listed on Nasdaq following the closing of the business combination.

Infleqtion translates quantum technology into solutions that expand human potential. Infleqtion designs, builds, and sells quantum computers, precision sensors, and software to governments, enterprises, and research institutions. As a first mover in neutral-atom technology, a leading quantum modality recognized for scalability, flexibility, and cost efficiency, Infleqtion has developed a practical, differentiated commercial platform designed to scale. This approach enables Infleqtion to support both quantum computing and precision sensing from a single product architecture. The company’s portfolio includes quantum computers, quantum clocks, RF receivers, and inertial sensors, engineered for real-world deployment and optimized by Infleqtion’s proprietary software. These systems are used in collaboration with NVIDIA and by customers including the U.S. Department of War, NASA, and the U.K. government.

Infleqtion will become the first publicly listed neutral-atom quantum technology company and the only public company with commercial leadership across both quantum computing and precision sensing.

About Infleqtion

Infleqtion, Inc. is a global leader in quantum sensing and quantum computing, powered by neutral-atom technology. We design and build quantum computers, precision sensors, and quantum software for governments, enterprises, and research institutions. Our commercial portfolio includes quantum computers as well as quantum Radio Frequency (QRF) systems, quantum clocks, and inertial navigation solutions. Infleqtion is the partner of choice for governments and commercial customers seeking cutting-edge quantum capabilities. Infleqtion announced in September 2025 it plans to go public via a merger with Churchill Capital Corp X (NASDAQ: CCCX). For more information, visit Infleqtion.com or follow Infleqtion on LinkedIn, YouTube, and X.

Forward-Looking Statements

This communication includes “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Infleqtion has based these forward-looking statements on current expectations and projections about future events. These statements include: projections of market opportunity and market share; estimates of customer adoption rates and usage patterns; projections regarding Infleqtion’s ability to commercialize new products and technologies; projections of development and commercialization costs and timelines; expectations regarding Infleqtion’s ability to execute its business model and the expected financial benefits of such model; expectations regarding Infleqtion’s ability to attract, retain and expand its customer base; Infleqtion’s deployment of proceeds from capital raising transactions; Infleqtion’s expectations concerning relationships with strategic partners, suppliers, governments, state-funded entities, regulatory bodies and other third parties; Infleqtion’s ability to maintain, protect and enhance its intellectual property; future ventures or investments in companies, products, services or technologies; development of favorable regulations affecting Infleqtion’s markets; the potential benefits of the proposed transaction and expectations related to its terms and timing; and the potential for Infleqtion to increase in value.

These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, many of which are beyond the control of Infleqtion.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause Infleqtion’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such statements. Such risks and uncertainties include: the effect of the announcement of Infleqtion’s public listing on Infleqtion’s business relationships, operating results, and business generally; that the public listing disrupts current plans and operations of Infleqtion; the outcome of any legal proceedings that may be instituted against Infleqtion; the ability to maintain the listing of Infleqtion’s securities on a national securities exchange; that Infleqtion is pursuing an emerging technology, faces significant technical challenges and may not achieve commercialization or market acceptance; Infleqtion’s historical net losses and limited operating history; Infleqtion’s expectations regarding future financial performance, capital requirements and unit economics; Infleqtion’s use and reporting of business and operational metrics; Infleqtion’s competitive landscape; Infleqtion’s dependence on members of its senior management and its ability to attract and retain qualified personnel; Infleqtion’s concentration of revenue in contracts with government or state-funded entities; the potential need for additional future financing; Infleqtion’s ability to manage growth and expand its operations; potential future acquisitions or investments in companies, products, services or technologies; Infleqtion’s reliance on strategic partners and other third parties; Infleqtion’s ability to maintain, protect and defend its intellectual property rights; risks associated with privacy, data protection or cybersecurity incidents and related regulations; the use, rate of adoption and regulation of artificial intelligence and machine learning; uncertainty or changes with respect to laws and regulations; uncertainty or changes with respect to taxes, trade conditions and the macroeconomic environment; Infleqtion’s ability to maintain internal control over financial reporting and operate a public company; the possibility that required regulatory approvals for the proposed transaction are delayed or are not obtained, which could adversely affect Infleqtion or the expected benefits of the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; the outcome of any legal proceedings or government investigations that may be commenced against Infleqtion; failure to realize the anticipated benefits of the proposed transaction; the ability of Infleqtion to issue equity or equity-linked securities in connection with the proposed transaction or in the future; and other factors described in Infleqtion’s filings with the SEC. Additional information concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by Infleqtion with the SEC, including under the heading “Risk Factors.” If any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, these statements reflect the expectations, plans and forecasts of Infleqtion’s management as of the date of this communication; subsequent events and developments may cause their assessments to change. While Infleqtion may elect to update these forward-looking statements at some point in the future, they specifically disclaim any obligation to do so. Accordingly, undue reliance should not be placed upon these statements.

In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this communication, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.

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Media Contact

Tim Biba

Solebury Strategic Communications

tbiba@soleburystrat.com



Investor Contact

Marcus Kupferschmidt

Infleqtion

investors@infleqtion.com

Source: Infleqtion, Inc.