Klein-Backed SPAC, Quantum Firm Infleqtion Ink $1.8 Billion Deal

Quantum computing firm Infleqtion has agreed to merge with a blank-check firm led by Michael Klein in a pact that gives the startup a pre-money valuation of $1.8 billion.

The merger with special purpose acquisition company Churchill Capital Corp. X, Klein’s 10th blank-check vehicle, is set to accelerate Infleqtion’s goal of commercializing quantum products. The deal is expected to provide more than $540 million to the upstart, including a co-investment from institutional investors Maverick Capital, Counterpoint Global and Glynn Capital, among others.

The possibility of a swift listing was a key driver for Infleqtion to merge with ...