Churchill Capital Corp X to merge with ColdQuanta at $1.8B valuation; $126.5M PIPE

Infleqtion, Inc.

ColdQuanta pre-money equity value of $1.8B; combined company to be renamed Infleqtion, Inc.
PIPE investment of $126.5M at $10/share from institutional investors to fund the merger.
Minimum cash condition: at least $100M in available cash (trust + PIPE) at closing.
Sponsor agrees to vote in favor; 1.5M sponsor shares vest upon $12 VWPA over 15/180 days.
Deal subject to HSR, UK NSI Act, and Australian FATA approvals; must close by March 1, 2026.

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