SEECQ, a developer of scalable, energy efficient digital chips for quantum computing systems, has entered into a merger agreement with Allegro Merger Corp.
The merger involves forming a wholly owned subsidiary of SEEQC that will merge with and into Allegro, with Allegro surviving as a wholly owned subsidiary of SEEQC.
The transaction values SEEQC at approximately $1 billion.
Merger Agreement
SEECQ and Allegro Merger Corp. have entered a definitive merger agreement, with Allegro becoming a wholly owned subsidiary of SEEQC.
Transaction Value
The transaction values SEEQC at approximately $1 billion, with all outstanding shares of Allegro being exchanged for shares of SEEQC's common stock.
Technology Focus
SEECQ develops digital, chip-based solutions integrated with quantum processors for quantum computing, supporting low-latency and efficient data throughput operations.
Collaborations
SEECQ has collaborated with government agencies, academic institutions, and industry partners like IBM, NVIDIA, and Booz Allen Hamilton to deploy its technology in research and system-integration projects.
Approvals and Advisors
The Board of Directors of SEEQC and Allegro have unanimously approved the transactions. Centerview Partners LLC is serving as the financial advisor to SEEQC.
- SEECQ's chip-based architecture reduces reliance on room-temperature electronics, supporting efficient quantum computing operations.
- The merger strengthens SEEQC's position in the quantum computing market and enhances its capability to offer scalable and energy-efficient solutions to developers.
The merger agreement between SEEQC and Allegro Merger Corp. marks a significant step towards enhancing SEEQC's quantum computing capabilities and market presence. This strategic move is expected to drive innovation and accelerate the advancement of quantum computing technology.