SEEQC, a developer and manufacturer of scalable, energy efficient digital chips for quantum computing systems, has entered into a definitive merger agreement with Allegro Merger Corp.
The merger involves the formation of a wholly owned subsidiary by SEEQC, which will merge with and into Allegro, with Allegro surviving as a wholly owned subsidiary of SEEQC.
The transaction values SEEQC at approximately $1 billion, with all outstanding shares of common stock of Allegro being canceled and exchanged for SEEQC's common stock.
Merger Agreement
SEEQC and Allegro have entered into a merger agreement that involves forming a wholly owned subsidiary and exchanging common stock.
Transaction Value
The transaction values SEEQC at approximately $1 billion, with all outstanding Allegro shares being exchanged for SEEQC's common stock.
Merger Approval
The Board of Directors of SEEQC and Allegro have unanimously approved the merger transactions.
- SEEQC's technology integrates control, readout, and processing functions on-chip with quantum processors, supporting low-latency operations.
- The merger is expected to enhance SEEQC's chip-based solutions for quantum computing system developers.
- SEEQC's collaborations with government agencies, academic institutions, and industry partners demonstrate the adoption of their technology in various projects.
The merger between SEEQC and Allegro signifies a significant step towards advancing quantum computing technology and strengthening their market position. The combined expertise and resources are expected to drive innovation and scalability in the quantum computing industry.