Infleqtion to go public via Churchill Capital X SPAC at $1.8B pre-money valuation
On 2025-09-10 Infleqtion (ColdQuanta) announced a business combination with Churchill Capital Corp X at a $1.8 billion pre-money equity valuation, expected to generate over $540 million of gross proceeds including a $125M+ common-stock PIPE from Maverick Capital, Counterpoint Global (Morgan Stanley), Glynn Capital, BOKA Capital, and LCP Quantum. The combined company is to trade on Nasdaq as INFQ. Infleqtion reported about $29M trailing-12-month revenue and expects ~$50M booked/awarded business by year-end 2025.
A $1.8B pre-money de-SPAC with $540M+ of proceeds is a meaningful going-public and capitalisation event for a neutral-atom full-stack quantum company, though the valuation is a SPAC pre-money figure contingent on the merger closing.
With named PIPE backers and a sizable proceeds target, Infleqtion gains public-market currency to fund neutral-atom computing, sensing, and software lines while joining D-Wave, IonQ, Rigetti, and QUBT as a public pure-play.