Silicon Valley Acquisition Corp.

Silicon Valley Acquisition Corp. (SVAQ) and EigenQ Inc. have entered into a definitive business combination agreement, which will result in EigenQ becoming a publicly traded company. The transaction values EigenQ at a pro forma enterprise value of approximately $3 billion and is expected to close in the fourth quarter of 2026. EigenQ is a quantum technology company developing solutions across security, AI, communications, sensing, and computing, with existing strategic collaborations with major tech partners. The combined company is expected to trade on Nasdaq under the ticker symbol 'EIGQ'.

Silicon Valley Acquisition Corp. reported a net income of $1.67 million for the three months ended March 31, 2026, with basic and diluted net income per share of $0.06. The company's total assets grew to $218.68 million, primarily due to an increase in investments held in the Trust Account to $217.06 million. During the quarter, the underwriters partially exercised their over-allotment option, generating an additional $15 million, and 499,950 Class B ordinary shares were forfeited.

Madan Menon has resigned from his position as Chief Operating Officer of Silicon Valley Acquisition Corp., effective April 8, 2026. The company stated that his departure was not due to any disagreements regarding the company's operations, policies, or practices.