Xanadu Quantum Technologies Inc., a leading photonic quantum computing company, has entered into an agreement to combine with Crane Harbor Acquisition Corp., a publicly traded special purpose acquisition company. The combined entity, to be named Xanadu Quantum Technologies Limited ("NewCo"), is expected to receive approximately US$500 million in gross proceeds, including around US$225 million from Crane Harbor's trust account and US$275 million from a group of strategic and institutional investors via a common equity private placement. Upon completion, NewCo is expected to be listed on both the Nasdaq Stock Market and the Toronto Stock Exchange.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Crane Harbor Acquisition Corp. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9605169-en) on December 19, 2025, and is solely responsible for the information contained therein.