Kellerhals Carrard advises Terra Quantum AG in proposed USD 3.25bn business combination with SPAC Mountain Lake Acquisition Corp. II

On 9 April 2026, Terra Quantum AG, a leading quantum technology company, and Mountain Lake Acquisition Corp. II (Nasdaq: MLAA), a special purpose acquisition company, announced that they have signed a non-binding letter of intent to enter into a business combination that values Terra Quantum at USD 3.25 billion.

The proposed transaction reflects strong confidence in Terra Quantum’s differentiated quantum algorithms, software, quantum security, and hybrid quantum-classical solutions, as well as its commercial traction across multiple industries including defence, finance, pharmaceuticals, and logistics. Upon completion of the transaction, the combined entity will be publicly listed, providing Terra Quantum with enhanced access to capital markets to support its next phase of growth, including product development, global expansion, and strategic acquisitions.

Kellerhals Carrard acts as Swiss transaction counsel to Terra Quantum on this deal. The Kellerhals Carrard team is led by Marc Hanslin (Partner, Corporate/M&A) and includes Emanuel Dettwiler (Partner, Corporate/M&A), Christian Witschi (Partner, Tax), Sarah Schneider (Senior Associate, Corporate/M&A), Sebastian Müller (Associate, Corporate/M&A), Kim Lindner (Associate, Corporate/M&A), Beatrice Koobs (Associate, Tax) and Robin Stoffel (Junior Associate, Corporate/M&A).  acts as lead counsel to Terra Quantum and its team is led by Clemens Richter. Winston & Strawn LLP acts as US counsel to Terra Quantum and its team is led by Michael J. Blankenship.