Silicon Valley Acquisition Corp. (SVAQ) Form 8-K — Oct 21, 2026
Silicon Valley Acquisition Corp. (SVAQ) disclosed that on October 19, 2026 it and business combination target EigenQ entered into a securities purchase agreement with a special purpose investment vehicle for subordinated unsecured promissory notes of up to $5,000,000 aggregate principal, plus warrants at $12.00 per share. At the initial closing, EigenQ issued a note with $2,413,333.33 principal for $2,172,000 previously funded, reflecting a 10% original issue discount, plus warrants for 201,111 shares; an additional closing of up to $2,586,666.67 principal remains subject to conditions.
Key figures
- Debt Amount
- 5000000
- Interest Rate
- 8% cash / 10% PIK per annum
- Maturity Date
- April 15, 2027 (subject to extension to July 15, 2027)
- Floor price
- $5.00
- Conversion price
- $12.00
- Maturity premium
- 30%
- Remaining amount
- $2,586,666.67
- Initial note principal
- $2,413,333.33
- Initial purchase price
- $2,172,000
- Warrant shares initial
- 201111
- Original issue discount
- 10%
- Event of default premium
- 40%
- Eigenq shares outstanding
- 305298732
- Warrant shares additional
- 215555
- Aggregate purchase price cap
- $4,500,000
AI analysis
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