Verified 8-K Summary: Churchill Capital Corp X Nears Merger Completion with ColdQuanta (Infleqtion) and NYSE Listing

Churchill Capital Corp X (CCCX) is set to complete its merger with ColdQuanta, Inc., which will operate as Infleqtion. This pivotal event includes a strategic move to list the combined company's shares and warrants on the New York Stock Exchange (NYSE) under new ticker symbols. This marks Churchill X's transformation from a Special Purpose Acquisition Company (SPAC) into an active public company.

Event Overview: The core event is the upcoming merger between Churchill Capital Corp X and ColdQuanta, Inc., forming a new public company named Infleqtion. As part of this transaction, Infleqtion will list its common stock and warrants on the New York Stock Exchange (NYSE) under new ticker symbols. This move transforms Churchill X from a shell company into a publicly traded operating company focused on quantum technology. Additionally, the company will change its legal home from the Cayman Islands to Delaware, a standard practice for U.S. public companies.

Introducing the New Company: Infleqtion Infleqtion stands as a leading quantum technology company. It specializes in developing and commercializing cold atom quantum computing, quantum sensors, and other advanced quantum solutions. The company aims to tap into the rapidly expanding global quantum market, providing innovative technologies for diverse industries, including defense, telecommunications, and scientific research. Its vision is to accelerate the development and widespread adoption of practical quantum technologies.

Key Dates and Timeline:

• Announcement: The plan for the NYSE listing and merger completion was officially announced on February 3, 2026.
• Exchange Transition:
  • February 13, 2026 (end of trading): Churchill X's common stock (CCCX), warrants (CCCXW), and units (CCCXU) will stop trading on the Nasdaq Stock Market.
  • February 17, 2026 (start of trading): Infleqtion's common stock (INFQ) and warrants (INFQ WS) are expected to begin trading on the New York Stock Exchange.
• Unit Separation: Before the merger closes, Churchill X's "Units" (CCCXU) will automatically split into individual common shares and warrants. This is a standard step before a SPAC merger. After this, the units will no longer trade.
• Legal Home Change: As part of the merger, the company will reincorporate from the Cayman Islands to Delaware, meeting U.S. legal and regulatory standards.

Why the NYSE Listing? Moving to the NYSE is a strategic decision that aims to boost Infleqtion's profile, attract a broader base of institutional and retail investors, and potentially increase the ease of buying and selling its shares. Listing on a major exchange like the NYSE is often seen as a sign of credibility and supports Infleqtion's long-term growth ambitions as a prominent player in the quantum technology sector.

Financial Outlook: The merger's completion will provide Infleqtion with cash for its operations. This cash comes from the funds held in Churchill Capital Corp X's trust account, after any shareholders choose to redeem their shares, and potentially supplemented by proceeds from private investments from institutional investors (PIPE). The actual cash Infleqtion receives depends on how many Churchill X shareholders redeem their shares and if any committed PIPE investments close. The merger also involves various transaction expenses. Upon closing, Infleqtion's projected ownership structure and financial position will show how Churchill X shares convert and new shares are issued to ColdQuanta shareholders. Specific details regarding the final cash proceeds and projected financial position will appear in the official merger documents (definitive proxy statement/prospectus) and subsequent filings.

Impact Assessment: Who and What is Affected This event significantly transforms Churchill Capital Corp X from a shell company into an active business, Infleqtion. ColdQuanta, Inc. will become a publicly traded company. Churchill X shareholders will own shares in Infleqtion, with new ticker symbols and a change in listing exchange from Nasdaq to NYSE. The company's legal home shifts from the Cayman Islands to Delaware. The quantum technology market gains a new publicly traded company. This transition could make the stock price more volatile as the market gets to know the new company and its business. Infleqtion will face risks common to the emerging quantum technology sector, plus merger-related challenges like integrating operations and maintaining financial flexibility after shareholder redemptions.

Key Takeaways for Investors:

• Merger Nears Completion: This announcement confirms the merger is nearing completion, transforming Churchill X from a shell company into a quantum technology business.
• New Investment Focus: Investors will now evaluate Infleqtion based on its business model, technology, market reach, and growth potential in the quantum industry.
• Shareholder Approval Needed: Churchill X shareholders must still approve the merger; they have received proxy materials with transaction details.
• New Ticker Symbols: Investors holding Churchill X securities should update watchlists for new NYSE tickers: INFQ (common stock) and INFQ WS (warrants).
• Units Will Delist: Holders of CCCXU units should note they will automatically split into individual shares and warrants, and the units will then delist.
• Potential for Stock Volatility: Mergers and new listings can cause stock price volatility as the market adjusts to the new company.
• Quantum Tech Risks: As an emerging quantum technology company, Infleqtion faces risks from rapid tech development, market adoption, intense competition, and high research and development costs.
• Merger Integration Risks: Challenges include integrating operations, retaining key staff, and the final cash available after shareholder redemptions, which could affect Infleqtion's financial flexibility and growth.