IonQ and SkyWater received FTC Second Requests on April 24, 2026, extending the HSR Act waiting period for their merger pending substantial compliance.
Key takeaways
IonQ entered Merger Agreement with SkyWater on January 25, 2026, involving two-step merger structure.
Merger Sub 1 merges into SkyWater (SkyWater survives as IonQ subsidiary), followed by SkyWater merging into Merger Sub 2.
FTC issued Second Requests to both companies on April 24, 2026, extending HSR waiting period until 30 days after compliance.
Companies expect to respond promptly and cooperate with FTC review.
Mergers still anticipated in Q2 or Q3 2026, subject to HSR clearance and other conditions.