Ogier’s Cayman Islands corporate team advised Churchill Capital Corp X on its $1.8 billion business combination with quantum technology company Infleqtion, completing a de-SPAC transaction that took the company public on the New York Stock Exchange.
The transaction closed 13 Feb 2026, with the combined company beginning trading 17 Feb under the ticker INFQ.
The deal valued Infleqtion, which focuses on neutral atom-based quantum computing and sensing technology, at $1.8 billion and delivered more than $550 million in gross proceeds to the company, according to Ogier. That included nearly 100% of funds held in Churchill Capital Corp X’s trust account, with 0.09% of shareholders redeeming their shares, and more than $126 million raised through a private investment in public equity, or PIPE, financing .
Churchill Capital Corp X raised $414 million in an upsized initial public offering in May 2025 before signing a definitive business combination agreement with Infleqtion in September 2025.
Ogier said its team advised on the full SPAC lifecycle, from the IPO through the de-SPAC process, and was led by partners Bradley Kruger and Mike Azarnikow.
“We congratulate the Churchill and Infleqtion teams on closing this significant transaction and bringing a compelling neutral-atom quantum technology business to the public markets. This is a standout example of a well-executed SPAC lifecycle, and we are proud to have supported Churchill Capital Corp X throughout,” Kruger said in a press release.
“We also want to recognise the hard work of our colleagues at Willkie Farr & Gallagher LLP, and the wider adviser group.”
Ogier said it advised on more than $32 billion of publicly announced SPAC listings and de-SPAC transactions in 2025.
