Ogier advises Churchill on closing of US$1.8 billion quantum technology de-SPAC with Infleqtion

Ogier’s Corporate team in the Cayman Islands has advised Churchill Capital Corp X on the closing of its business combination with Infleqtion, a global leader in neutral atom-based quantum technology, marking the completion of a landmark de-SPAC for the Churchill team and an important milestone for Infleqtion as it becomes a publicly traded company. 

This successful closing follows Churchill Capital Corp X’s US$414 million upsized IPO in May 2025, and Ogier’s earlier announcement when the parties signed the definitive business combination agreement in September 2025, underscoring the pace and efficiency with which Churchill Capital Corp X moved from IPO to closing with a highly differentiated target operating at the forefront of quantum computing and sensing. 

The transaction valued Infleqtion at US$1.8 billion and delivered over US$550 million of gross proceeds to Infleqtion, including nearly 100% of the funds held in the trust account (with only 0.09% of shareholders exercising their redemption rights) and over US$126 million raised through a PIPE financing – demonstrating strong support from public shareholders and private investors. 

The Ogier team advised on Churchill Capital Corp X's complete SPAC lifecycle from IPO to de-SPAC and was led by Bradley Kruger and Mike Azarnikow. 

Bradley Kruger, partner in Ogier’s Corporate team in the Cayman Islands, said: “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.

"We also want to recognise the hard work of our colleagues at Willkie Farr & Gallagher LLP, and the wider adviser group, each of whom were a pleasure to work with. We look forward to continuing to work closely with the Churchill team on future opportunities.” 

The transaction closed on Friday 13 February 2026, with the post-combination company trading on the New York Stock Exchange from 17 February 2026 (NYSE:INFQ). 

Ogier’s SPAC and de-SPAC credentials 

Ogier is one of the leading Cayman Islands advisers in the SPAC market and regularly supports sponsors across the full SPAC lifecycle, from IPO through to de-SPAC. In 2025, Ogier's corporate team advised on more than US$32 billion of publicly announced SPAC listings and de-SPAC transactions.