IonQ Enters Merger Agreement with SkyWater Technology

According to a regulatory filing, as previously disclosed, on January 25, 2026, IonQ (IONQ) entered into an Agreement and Plan of Merger with SkyWater Technology (SKYT), Iris Merger Subsidiary 1 Inc., a Delaware corporation and a wholly owned subsidiary of IonQ, and Iris Merger Subsidiary 2 LLC, a Delaware limited liability company and a wholly owned subsidiary of IonQ. Pursuant to the Merger Agreement, Merger Sub 1 will merge with and into SkyWater, with SkyWater surviving as a wholly owned subsidiary of IonQ and immediately following the effective time of the First Merger, SkyWater, as the surviving entity of the First Merger, will merge with and into Merger Sub 2, which will survive the merger as a wholly owned subsidiary of IonQ. On April 24, 2026, IonQ and SkyWater each received a request for additional information from the U.S. Federal Trade Commission in connection with the FTC's review of the Mergers. The issuance of the Second Request extends the waiting period under the HSR Act until 30 days after both IonQ and SkyWater have substantially complied with the Second Request, unless the waiting period is extended voluntarily by the parties or terminated earlier by the FTC. IonQ and SkyWater expect to promptly respond to the Second Request and to continue to work cooperatively with the FTC in its review of the Mergers. The Mergers are still expected to be completed in the second or third quarter of 2026, subject to the expiration or termination of the waiting period under the HSR Act and the satisfaction (or waiver) of other customary closing conditions.