Silicon Valley Acquisition Corp. filed a current report on August 7, 2026, disclosing amendments dated August 6, 2026 to its Business Combination Agreement and Sponsor Support Agreement in connection with its proposed merger with EigenQ, Inc.

Key Highlights

  • BCA Amendment signed: On August 6, 2026, SVAQ, Merger Sub, and EigenQ, Inc. entered into a first amendment to the Business Combination Agreement originally dated June 17, 2026.
  • Board expansion: The amendment expands the size of the PubCo board of directors from 7 members to 9 members after the closing.
  • Equity incentive plan clarified: The equity incentive plan to be adopted by PubCo will have an initial share reserve equal to approximately 10% of issued and outstanding shares of PubCo Common Stock on a fully-diluted basis immediately after closing.
  • Redemption timing clarified: The amendment clarifies that SVAQ will redeem Class A ordinary shares tendered for redemption by public shareholders immediately before the Domestication.
  • Sponsor Support Agreement amended: The Sponsor Support Agreement was amended to clarify that up to 2,165,950 SVAQ Class B ordinary shares may be transferred or forfeited for any purpose related to the Business Combination, not only to incentivize Transaction Financing.
  • Domestication confirmed: Prior to closing, SVAQ will transfer by continuation from the Cayman Islands and domesticate as a Delaware corporation.

SVAQ and EigenQ Amend Merger Terms, Expand PubCo Board and Sponsor Share Provisions

According to the filing, Silicon Valley Acquisition Corp. (Nasdaq: SVAQ, with units trading as SVAQU and warrants as SVAQW on The Nasdaq Stock Market LLC) entered into a first amendment to its Business Combination Agreement on August 6, 2026. The original agreement, dated June 17, 2026, contemplated a two-step transaction: first, SVAQ would domesticate from the Cayman Islands to Delaware, and second, SVAQ Merger Sub Inc. would merge with and into EigenQ, Inc., a Delaware corporation, with EigenQ continuing as the surviving company and becoming a wholly-owned subsidiary of SVAQ, referred to as PubCo following closing.

The BCA Amendment addresses several items, the filing disclosed. It confirms that Transaction Support Shares set aside by Silicon Valley Acquisition Sponsor LLC (the "Sponsor") may be transferred for any purpose related to the Business Combination as agreed by the parties, not solely to incentivize Transaction Financing. It also clarifies the timing of share redemptions, expands the PubCo board from 7 to 9 members, and sets the initial equity incentive plan share reserve at approximately 10% of issued and outstanding PubCo Common Stock on a fully-diluted basis immediately after closing.

The Sponsor Support Agreement was similarly amended on August 6, 2026. According to the filing, the Sponsor had previously agreed to transfer up to 2,165,950 SVAQ Class B ordinary shares to potential investors to support Transaction Financing. Under the original terms, any non-transferred shares would be split evenly: 50% retained by the Sponsor and 50% forfeited and surrendered to SVAQ. The Support Agreement Amendment broadens the permitted uses of these shares, now referred to as "Transaction Support Shares," to cover any purpose related to the Business Combination. The filing notes that the Business Combination remains subject to shareholder approval and that a Registration Statement is expected to be filed with the SEC.

What Was Disclosed

SVAQ disclosed two amendments, both dated August 6, 2026: a first amendment to the Business Combination Agreement with EigenQ, Inc. covering board size, equity plan reserves, and redemption timing, and a first amendment to the Sponsor Support Agreement broadening the permitted use of up to 2,165,950 Class B ordinary shares held aside by the Sponsor.