Infleqtion said Monday that it will go public through a business combination with blank-check firm Churchill Capital Corp X, giving the quantum computing firm a pre-money valuation of $1.8 billion.

The deal will help Infleqtion accelerate its efforts to commercialize quantum computing and precision sensing products.

After the merger closes, the combined company will continue to operate under the name Infleqtion and is expected to list on a major North American exchange under the ticker 'INFQ,' the companies said.

The merger is expected to generate over $540 million in gross proceeds, including $416 million from Churchill X's trust account and more than $125 million in new funding from institutional investors such as Morgan Stanley's Counterpoint Global, the parties said.

No existing Infleqtion shareholders will sell shares or receive cash consideration in the deal, and all shareholders will be locked up at the closing of the deal, the companies said.