January 06, 2026 -- Infleqtion, a global leader in neutral-atom–based quantum technology, and Churchill Capital Corp X, a publicly traded special purpose acquisition company, today announced the filing with the U.S. Securities and Exchange Commission of their joint registration statement on Form S-4 (the “Registration Statement”) in connection with their proposed business combination. The Registration Statement includes a preliminary proxy statement/prospectus and has not yet been declared effective. The information contained therein is subject to change. The filing follows the confidential submission of a draft registration statement on October 29, 2025 and represents a step in the process toward completion of the previously disclosed proposed business combination between Infleqtion and Churchill Capital Corp X (“Churchill X”).

Infleqtion translates quantum technology into solutions that expand human potential. Infleqtion designs, builds, and sells quantum computers, precision sensors, and software to governments, enterprises, and research institutions. As a first mover in neutral-atom technology, a leading quantum modality recognized for scalability, flexibility, and cost efficiency, Infleqtion has developed a practical, differentiated commercial platform designed to scale. This approach enables Infleqtion to support both quantum computing and precision sensing from a single product architecture. The company’s portfolio includes quantum computers, quantum clocks, RF receivers, and inertial sensors, engineered for real-world deployment and optimized by Infleqtion’s proprietary software. These systems are used in collaboration with NVIDIA and by customers including the U.S. Department of War, NASA, and the U.K. government.

As announced on September 8, 2025, Infleqtion intends to become a publicly traded company through the proposed business combination. Upon closing, Infleqtion will become the first publicly listed neutral-atom quantum technology company and the only public company with commercial leadership across both quantum computing and precision sensing.

Infleqtion is already well-capitalized, and the proposed business combination is expected to deliver over $540 million in gross proceeds, assuming no redemptions by Churchill Capital Corp X shareholders of the amounts held in trust. This includes more than $125 million of incremental capital raised through a common stock PIPE at the transaction valuation from leading existing and new institutional investors. Proceeds from the proposed business combination are expected to accelerate Infleqtion’s technology roadmap and product commercialization, expanding applications across artificial intelligence, national security, and space and enabling additional real-world use cases.

Since announcing the proposed business combination with Churchill X, Infleqtion has continued to advance its technology leadership:

• Achieved 12 logical qubits with error detection and loss correction—surpassing its prior 2026 target and positioning the company ahead of schedule on its roadmap to deliver 1,000 logical qubits by 2030.
• Expanded collaboration with NVIDIA to bring Infleqtion’s NVQLink quantum architecture to GPU-accelerated AI systems, with installation of an NVQLink-enabled Sqale quantum computer underway at the Illinois Quantum & Microelectronics Park.
• Demonstrated the world’s first quantum optical clock for underwater autonomous navigation, in partnership with the Royal Navy, advancing GPS-free positioning capabilities.
• Announced a strategic partnership with Silicon Light Machines to enhance quantum computer performance through next-generation optical technologies.
• Selected for the U.S. Army’s “SAPIENT” program to develop secured, AI-enabled positioning, navigation, and timing capabilities for contested and GPS-denied environments.
• Entered a strategic collaboration with Safran Electronics & Defense to validate an integrated resilient timing solution combining Infleqtion’s Tiqker timing technology with Safran’s synchronization systems, targeting global availability in Q1 2026.

Upon closing, the combined company will operate as “Infleqtion, Inc.” and is expected to be listed on a leading North American exchange under the ticker symbol “INFQ.” The business combination remains subject to approval by Churchill X shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions. The business combination is expected to close in Q1 of 2026.