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SPAC · Merger completed

Crane Harbor Acquisition Corp.

Business combination with Xanadu Quantum Technologies Limited

Crane Harbor Acquisition Corp. is a blank-check company (SPAC) that raised $200M in its initial public offering on Apr 25, 2025, listing on Nasdaq Global Market. It completed its business combination with Xanadu Quantum Technologies Limited on Apr 1, 2026; the combined company is Xanadu Quantum Technologies (XNDU). JonesTrading Institutional Services led the IPO. Maples and Calder advised the SPAC and Kirkland & Ellis advised the underwriters on the IPO.

Xanadu Quantum Technologies Limited is a Canadian quantum computing company that aims to build quantum computers useful and available to people everywhere. It also leads development of PennyLane, an open-source software library for quantum computing and application development.

Status
Merger completed
IPO date
Apr 25, 2025
IPO size
$200M
IPO exchange
Nasdaq Global Market
Target
Xanadu Quantum Technologies Limited
Announced
Nov 3, 2025
Stated deal value
$3.1B
Closed
Apr 1, 2026
Combined company
Xanadu Quantum Technologies (XNDU)
IPO underwriters
JonesTrading Institutional Services
SPAC counsel (IPO)
Maples and Calder
Underwriters' counsel (IPO)
Kirkland & Ellis

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