SEEQC and Allegro Merger Corp. Enter into Merger Agreement
SEEQC Enters Definitive Merger Agreement with Allegro Merger Corp.
SEEQC, a company specializing in the development and manufacture of scalable, energy-efficient digital chips for quantum computing systems, announced that it has entered into a definitive merger agreement with Allegro Merger Corp., a publicly traded company that files reports with the U.S. Securities and Exchange Commission (SEC).
Transaction Structure and PIPE Financing
Under the terms of the merger agreement, SEEQC will form a wholly owned subsidiary that will merge with Allegro. Following the transaction, Allegro will continue as a wholly owned subsidiary of SEEQC. In parallel with the signing of the merger agreement, SEEQC and Allegro also entered into a subscription agreement under which SEEQC will sell approximately US$65 million of Allegro common stock through a private investment in public equity (PIPE) transaction.
Upon completion of the merger, all outstanding securities of Allegro, including shares issued in the PIPE transaction, will be converted into securities of SEEQC. The transaction implies an enterprise valuation of approximately US$1 billion for SEEQC.
Enabling Scalable and Energy-Efficient Quantum Computing
SEEQC develops digital chip-based solutions that integrate qubit control, readout, and classical computing functions directly onto a single chip, which is then co-integrated with a quantum processing unit (QPU). This architecture is designed to serve developers of advanced quantum computing systems by enabling more efficient and scalable operations.
By placing these functions in close proximity to qubits operating at millikelvin temperatures, SEEQC’s technology significantly reduces dependence on room-temperature electronics. This approach supports ultra-low latency, high-efficiency quantum computing with increased data throughput, addressing key scalability challenges facing the quantum industry.
Broad Compatibility Across Quantum Technologies
SEEQC’s chip-based architecture is designed to support a wide range of qubit modalities, including superconducting qubits, silicon spin qubits, and other emerging quantum technologies. This flexibility allows the platform to be applied across multiple quantum computing architectures and system designs.
Strong Track Record of Strategic Collaborations
SEEQC’s technology has been deployed in numerous research and system integration collaborations with government agencies, academic institutions, and leading industry partners. Notable initiatives include the company’s collaboration with IBM under the U.S. Department of Defense’s DARPA Quantum Benchmarking Initiative. SEEQC has also established partnerships with prominent organizations such as NVIDIA, Booz Allen Hamilton, and Rigetti.
Regulatory Filings and Transaction Timeline
Additional details regarding the proposed transaction, including closing conditions and regulatory considerations, will be disclosed in Allegro Merger Corp.’s Form 8-K filing with the SEC. The boards of directors of both SEEQC and Allegro have unanimously approved the merger agreement.
The transaction is expected to close in the second quarter of 2026, subject to customary regulatory approvals and closing conditions.
Financial and Legal Advisors
Centerview Partners LLC served as SEEQC’s financial advisor, while BTIG, LLC acted as SEEQC’s capital markets advisor and served as the sole underwriter and allocation agent for the PIPE transaction. Legal counsel for SEEQC was provided by DLA Piper LLP (US) and Perkins Coie LLP. Allegro Merger Corp. was advised by Graubard Miller, and Ellenoff Grossman & Schole LLP served as legal advisors to BTIG, LLC.
About SEEQC
SEEQC is focused on developing foundational technologies for quantum computing on chips. The company’s digital chip solutions are designed to make quantum systems scalable, energy-efficient, and commercially viable. SEEQC’s approach spans the full quantum computing ecosystem, with digital chips delivering critical computational capabilities for quantum AI and heterogeneous computing applications.
SEEQC was spun out of Hypres and founded by core members of IBM’s superconducting electronics division. The company is led by a world-class management and engineering team and operates advanced chip development and manufacturing facilities across the United States and Europe.
About Allegro Merger Corp.
Allegro Merger Corp. is a publicly traded company that files with the U.S. Securities and Exchange Commission and was formed for the purpose of pursuing strategic mergers and business combination transactions with operating companies.
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