Infleqtion Names Ilan Hart as CFO
Appointment of CFO: Infleqtion has appointed Ilan Hart as Chief Financial Officer, effective October 20, 2025, bringing nearly 30 years of financial leadership experience, including over two decades at Intel and a recent role as CFO at Zoox.
Role and Responsibilities: As CFO, Hart will manage corporate financial functions, capital markets strategy, and investor relations, playing a crucial role in Infleqtion's plans to go public through a merger with Churchill Capital Corp X.
Company Overview: Infleqtion specializes in neutral atom-based quantum technology, offering products like quantum computers and precision sensors, and has generated approximately $29 million in revenue over the past year, with significant growth potential.
Merger Details: The merger with Churchill Capital Corp X values Infleqtion at $1.8 billion and is expected to provide over $540 million in gross proceeds, which will be used to accelerate technology development and expand into new markets.
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Infleqtion's Merger with Churchill Capital Approved
- Merger Approval: Infleqtion's joint registration statement with Churchill Capital Corp X was declared effective by the SEC on January 23, marking a significant step towards its public listing and attracting investor interest.
- Funding Expectations: The merger is expected to deliver over $540 million in gross proceeds, including more than $125 million raised through PIPE financing, which will provide crucial funding to accelerate Infleqtion's technology roadmap.
- Application Expansion: Infleqtion's systems, used in collaboration with Nvidia and by clients such as the U.S. Department of Defense and NASA, will expand applications across AI, national security, and space, enhancing its competitive position in the market.
- Listing Plans: The combined entity will operate as Infleqtion, Inc. and is expected to be listed on the NYSE under the ticker INFQ, with the transaction anticipated to close in the first quarter of 2026, thereby increasing the company's market presence.
Infleqtion to Showcase Quantum Technology at CES 2026
- Quantum Technology Showcase: Infleqtion will present its quantum technology at CES 2026, with Chief Revenue Officer Paul Lipman participating in a discussion on January 6, emphasizing the practical applications of quantum devices in medical imaging and environmental monitoring, which is expected to attract significant attention from industry leaders.
- Accelerated Commercialization: The company plans to go public through a merger with Churchill Capital Corp X, which is anticipated to provide additional funding to accelerate technology development and market expansion, enhancing its competitive edge in the quantum sector.
- Strategic Partnerships: Infleqtion has partnered with Voyager Technologies to integrate its Tiqker quantum atomic clock aboard the International Space Station, enhancing navigation and communication capabilities, a move that will strengthen its market position in aerospace and defense sectors.
- Strengthened Leadership Team: The recent appointment of aerospace veteran Karl Pendergast to lead the Quantum Sensing Solutions Group aims to scale solutions for defense and national security customers, further solidifying Infleqtion's leadership in the quantum technology space.
