St. Gallen, Switzerland and Incline Village, NV, USA, April 09, 2026 -- Terra Quantum AG (“Terra Quantum”), a leading quantum technology company, and Mountain Lake Acquisition Corp. II (“MLAC II”) , a special purpose acquisition company, today announced that they have signed a non-binding letter of intent (“LOI”) to enter into a business combination that values Terra Quantum at $3.25 billion.

The proposed transaction reflects strong confidence in Terra Quantum’s differentiated quantum algorithms, software, quantum security, and hybrid quantum-classical solutions, as well as its commercial traction across multiple industries including defence, finance, pharmaceuticals, and logistics.

Upon completion of the transaction, the combined entity will be publicly listed, providing Terra Quantum with enhanced access to capital markets to support its next phase of growth, including product development, global expansion, and strategic acquisitions.

Strategic Rationale

The contemplated business combination is expected to enable Terra Quantum to:

• Accelerate the commercialization of ready to deploy quantum technologies
• Strengthen its balance sheet to support scaling operations globally
• Expand partnerships with enterprise and government customers
• Enhance visibility in the quantum computing sector

Management Commentary

“This milestone marks a significant step forward in Terra Quantum’s mission to deliver practical quantum solutions on a global scale today,” said Markus Pflitsch, Chairman & Chief Executive Officer of Terra Quantum AG. “Partnering with MLAC II would enable us to accelerate innovation, deepen customer engagement, and expand our global footprint.”

Paul Grinberg, Chairman and Chief Executive Officer of MLAC II, added: “We believe Terra Quantum is uniquely positioned at the forefront of the quantum revolution which also has a management team with distinguished backgrounds in both science and the commercialisation of technology. This proposed transaction aligns with our strategy to partner with high-growth, category-defining technology companies that can create significant value.”

Advisors

Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, is serving as exclusive financial and capital markets advisor to Terra Quantum. Heussen Rechtsanwaltsgesellschaft mbH, together with Kellerhals Carrard, Winston & Strawn, LLP, and Niedermann Rechtsanwälte, are serving as legal counsel to Terra Quantum.

BTIG is serving as financial and capital markets advisor to MLAC II. Lowenstein Sandler LLP and Lenz & Staehelin are serving as legal counsel to MLAC II.