Silicon Valley Acquisition Corp. (SVAQ) furnished EigenQ’s October 27, 2026 investor-day presentation and transcript about their proposed business combination. Under the agreement, SVAQ would first domesticate from the Cayman Islands to Delaware, and its wholly owned Merger Sub would merge into EigenQ; EigenQ would survive as SVAQ’s wholly owned subsidiary. Closing remains subject to shareholder approvals and other conditions.
EigenQ cited 2025 market figures of $449 billion for compute infrastructure, $269 billion for the U.S. server market and $22 billion for the U.S. federal government. It described its technology as integrated into an HPE ProLiant server, which it called its first product in the market, and outlined OEM and reseller distribution plans. EigenQ said it had not begun product sales or generated revenue as of October 27, 2026; its illustrative forecasts were not based on current customer contracts, purchase orders, backlog, bookings, executed OEM licenses or binding customer commitments, and its revenue-recognition policies were unfinished.
Silicon Valley Acquisition Corp. (SVAQ) and EigenQ entered into an agreement for EigenQ to issue subordinated unsecured notes with up to $5,000,000 in aggregate original principal, plus warrants. At the initial closing, EigenQ issued a $2,413,333.33 note and warrants for 201,111 shares at $12.00 per share, against $2,172,000 previously funded by the investor with no additional cash payment. EigenQ may issue up to $2,586,666.67 in additional note principal and warrants for up to 215,555 shares at $12.00, subject to conditions and a mutually agreed closing; aggregate purchase price is capped at $4,500,000.
The notes bear 8% annual interest when paid in cash or 10% when paid in kind, include 30% maturity and 40% event-of-default premiums, and mature April 15, 2027, subject to automatic extension to July 15, 2027 on substantially the same conditions as the secured notes. They are unsecured and subordinated to the secured financing: while secured obligations remain outstanding, principal, premium and redemption payments are generally restricted, and enforcement actions are limited. At the business combination closing, the notes are to be exchanged for PubCo subordinated unsecured convertible notes, and the warrants for PubCo warrants on a one-for-one basis.
Silicon Valley Acquisition Corp. (SVAQ) and EigenQ, Inc. publicly filed a Form S-4 registration statement for their proposed business combination. The registration statement includes a preliminary proxy statement/prospectus and has not been declared effective by the SEC. Completion remains subject to SEC effectiveness, required shareholder approvals, applicable listing requirements and other customary closing conditions; it is currently expected in the fourth quarter of 2026.
Under the agreement, SVAQ is expected to domesticate as a Delaware corporation and, after completion, be renamed EigenQ Holdings, Inc.; EigenQ would survive as its wholly owned subsidiary. SVAQ applied to list the post-combination company’s common stock and public warrants on the Nasdaq Global Market under proposed symbols EIGQ and EIGQW, effective upon closing. There is no closing condition requiring the warrants to be listed, and their listing is not assured. EigenQ separately announced approximately $45 million in convertible financing, with approximately half already funded.
Silicon Valley Acquisition Corp. (SVAQ) is seeking shareholder approval for a business combination with EigenQ, Inc. SVAQ would domesticate from the Cayman Islands to Delaware, merge its subsidiary into EigenQ, and be renamed EigenQ Holdings, Inc. at closing. The stated equity value is $2.93 billion; transaction share consideration for EigenQ security holders is calculated by dividing that value by $10.00.
Assuming maximum redemptions of 21,500,000 Public Shares, public shareholders are expected to hold 0.0% of PubCo voting power and EigenQ stockholders 97.3%. Tikdema Trust 2025 is separately expected to hold 95.6% of voting power for director elections. SVAQ estimates 288,935,000 shares, or 98.3% of post-close shares, will have registration rights, excluding shares underlying warrants; this estimate assumes maximum redemptions.
The proposed agreement would require PubCo to file a resale registration statement within 45 calendar days after closing. Covered holders generally face 180-day lock-ups, with 30 days for shares resulting from private-placement securities; specified 10% portions may be released if the stock closes at or above $15.00 for 15 trading days in a 30-trading-day period after closing. Closing depends on shareholder approvals, an effective registration statement, common-stock listing approval and expiration of the antitrust waiting period.
Silicon Valley Acquisition Corp. (SVAQ), SVAQ Merger Sub Inc. and EigenQ, Inc. entered into a third amendment to their business combination agreement on September 26, 2026. The amendment excludes certain EigenQ warrants issued and to be issued from certain agreement definitions and calculations, and clarifies that each such warrant will be exchanged for one PubCo warrant at the Business Combination Closing.
Under the proposed transaction, SVAQ would domesticate as a Delaware corporation before closing, and SVAQ Merger Sub Inc. would merge into EigenQ, which would continue as SVAQ’s wholly owned subsidiary. The combination will be submitted to SVAQ shareholders for consideration, and a registration statement is expected to be filed with the SEC.
SILICON VALLEY ACQUISITION SPONSOR LLC reported disposition transactions in this Form 4 filing.
Silicon Valley Acquisition Corp. (SVAQ) reports that Silicon Valley Acquisition Sponsor LLC transferred 500,000 Class B ordinary shares, which are convertible into an equal number of Class A ordinary shares, to an institutional investor at no cost on September 17, 2026. The transfer was made under a Founder Shares Transfer Agreement in connection with a note financing for the target in the issuer's proposed business combination. The Sponsor remains the record holder of the remaining shares, with a reported 6,665,950 Class B ordinary shares held after the transaction. Dan Nash, as managing member of the Sponsor, may be deemed to have beneficial ownership but disclaims it except for his pecuniary interest.
Silicon Valley Acquisition Corp. (SVAQ) is reported to have approximately 24.2% of its ordinary shares beneficially owned by Silicon Valley Acquisition Sponsor LLC and its manager Dan Nash, representing 7,090,950 ordinary shares based on 29,320,950 ordinary shares outstanding as of August 14, 2026.
This position includes 425,000 Class A ordinary shares and 6,665,950 Class B ordinary shares that are automatically convertible into Class A on a one-for-one basis in connection with the initial business combination or earlier at the holder’s option. The Sponsor originally acquired 7,665,900 founder Class B shares for $25,000 and later forfeited 499,950 Class B shares after partial exercise and expiration of the underwriters’ over-allotment option.
On September 17, 2026, in connection with a note financing related to a proposed business combination with EigenQ, Inc., the Sponsor agreed under a Securities Purchase Agreement and a Founder Shares Transfer Agreement to transfer up to 1,000,000 Class B shares to an institutional investor, of which 500,000 Class B shares were transferred at the Initial Closing. These transferred shares remain subject to lock-up restrictions until completion of the business combination but are expected to be registered on a Form S-4 and become freely tradable after the business combination, subject to securities law limits. The Sponsor also holds private placement units and has registration and lock-up arrangements through various agreements, including a Registration Rights Agreement and an Insider Letter, as amended.
Silicon Valley Acquisition Corp. (SVAQ) disclosed an amendment to its Business Combination Agreement with EigenQ, Inc., extending the Outside Date for closing the merger from February 14, 2027 to June 30, 2027, with potential automatic monthly extensions, and clarifying which EigenQ stockholders are subject to registration and lock-up provisions.
EigenQ entered into a ~$45 million committed financing with an institutional investor, consisting of $22.225 million in Initial senior secured notes and an additional $22.225 million in notes expected at business combination closing, each with a 10% original issue discount and exchangeable into five-year PubCo convertible notes bearing 8–10% interest and a $12.00 initial conversion price with anti-dilution resets down to a $5.00 floor. The Investor also receives EigenQ (and post-closing PubCo) warrants for an aggregate 3,704,166 shares at $12.00 and up to 1,000,000 SVAQ founder shares, while EigenQ grants a first-priority security interest over substantially all assets and agrees to stringent financial and operational covenants.
Silicon Valley Acquisition Corp. (SVAQ) reported that it and EigenQ, Inc., a quantum technology company and its proposed business combination counterparty, have confidentially submitted a draft registration statement on Form S-4 to the SEC for review. This S-4 relates to the previously announced business combination intended to take EigenQ public via SVAQ.
The transaction, if completed, is expected to create a combined company called EigenQ Holdings, Inc., with securities expected to trade on Nasdaq under the symbol EIGQ, subject to exchange listing approval. Closing of the business combination is currently expected in the fourth quarter of 2026, and remains subject to SEC review and effectiveness of the S-4, approval by SVAQ shareholders and EigenQ stockholders, and other customary closing conditions.
Silicon Valley Acquisition Corp., a SPAC, reported total assets of $220.3 million as of June 30, 2026, largely consisting of $219.0 million of investments in its Trust Account. Cash outside the trust was $1.18 million, with a working capital surplus of $451,912.
The company generated net income of $1.1 million for the quarter and $2.8 million for the six months, driven mainly by $3.9 million of interest on Trust investments, while incurring $1.1 million in general and administrative costs. There is an accumulated deficit of $8.1 million and $8.6 million of deferred underwriting fees.
SVAQ entered into a Business Combination Agreement with EigenQ, Inc., under which EigenQ will become a wholly owned subsidiary after a merger and the company will domesticate to Delaware and be renamed “EigenQ Holdings, Inc.” The exchange ratio uses a reference equity value of $2.93 billion. Management discloses substantial doubt about the ability to continue as a going concern within one year, absent additional capital or completion of a business combination by the December 24, 2027 completion window.