SEEQC, Inc. and Allegro Merger Corp. have entered into a merger agreement valued at approximately $1 billion.
Under the agreement, SEEQC will form a wholly owned subsidiary that will merge with and into Allegro, making Allegro a wholly owned subsidiary of SEEQC.
The merger involves the sale of approximately $65 million of Allegro's common stock in a PIPE transaction.
Merger Agreement
SEEQC and Allegro Merger Corp. have agreed to merge, with Allegro becoming a wholly owned subsidiary of SEEQC.
Transaction Value
The transaction values SEEQC at approximately $1 billion, with Allegro's common stock to be exchanged for SEEQC's common stock.
Technology Focus
SEEQC develops and manufactures chip-based solutions for quantum computing systems, integrating control, readout, and processing functions directly on the chip.
- SEEQC's technology reduces reliance on room-temperature electronics and supports low-latency, efficient data throughput for quantum computing operations.
- The merger will allow SEEQC to expand its technology reach across various qubit modalities, enhancing its presence in the quantum computing ecosystem.
The merger between SEEQC and Allegro Merger Corp. marks a significant step in the quantum computing industry, enhancing SEEQC's capabilities and positioning in the market.