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Crane Harbor Acquisition Corp. Announces Business Combination with Xanadu Quantum Technologies
CHAC
M&A
New Projects/Investments
- Crane Harbor Acquisition Corp. (CHAC) has entered into a definitive business combination agreement with Xanadu Quantum Technologies, Inc., which is expected to result in Xanadu becoming the first and only publicly traded pure-play photonic quantum computing company.
- The pro forma enterprise value of the combined company is anticipated to be approximately US$3.1 billion, with a pro forma market capitalization of approximately US$3.6 billion.
- The transaction is expected to generate approximately US$500 million in gross proceeds, including US$275 million from a fully committed common equity PIPE.
- Existing Xanadu shareholders will roll over 100% of their equity, resulting in approximately 84% ownership in the combined company.
- The closing of the transaction is targeted for late Q1 2026 / early Q2 2026.
Nov 3, 2025, 1:06 PM
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