SVAQ enters up to $5 million subordinated unsecured note financing tied to EigenQ merger
Silicon Valley Acquisition Corp. (SVAQ) entered an October 19, 2026 agreement for subordinated unsecured notes of up to $5 million, issued by EigenQ with warrants to buy EigenQ shares at $12.00. The notes are unsecured and subordinated to the secured notes already in place, so holders are paid after those notes, and the financing adds debt and potential share dilution for shareholders before the business combination closes.
Key points
- Up to $5,000,000 aggregate original principal of subordinated unsecured promissory notes, with an initial note of $2,413,333.33 issued at a 10% original issue discount
- Warrants for 201,111 EigenQ shares at $12.00 issued at the initial closing, with up to 215,555 more warrants possible at the additional closing
- Notes bear 8% cash or 10% paid-in-kind interest and mature April 15, 2027, extendable to July 15, 2027
- Notes are unsecured and expressly subordinated to the secured notes, with payments restricted while those notes remain outstanding
The filing
Written by AI on Nov 9, 2026, 11:48 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 21, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.