Xanadu Quantum Technologies Limited Announces Closing of Business Combination with Crane Harbor Acquisition Corp. and Xanadu Quantum Technologies Inc.

Core Viewpoint - Xanadu Quantum Technologies Limited is set to become the first publicly listed pure play photonic quantum computing company, with trading commencing on Nasdaq and the Toronto Stock Exchange under the ticker symbol "XNDU" on March 27, 2026 [1][2] Company Overview - Xanadu is a Canadian quantum computing company founded in 2016, focused on building quantum computers that are useful and accessible globally [11] - The company is recognized as a leader in quantum hardware and software, and it also develops PennyLane, an open-source software library for quantum computing [11] Business Combination and Financing - Xanadu has successfully completed a business combination with Crane Harbor Acquisition Corp. and secured US$275 million in PIPE financing [1] - The business combination involved the exchange of securities from Old Xanadu for those of the new entity, resulting in significant share distributions to key stakeholders [3][5] Shareholder Structure - Post-business combination, Mr. Christian Weedbrook holds approximately 18.23% of the total issued Class A Multiple Voting Shares and 15.58% of the total issued shares of Xanadu [3][4] - Georgian Partners Growth LP and its associated funds acquired a total of 29,514,154 Class A Multiple Voting Shares and 200,000 Class B Subordinate Voting Shares, representing approximately 9.97% of the total issued shares of Xanadu [7][9] Market Position and Future Prospects - Xanadu aims to accelerate its commercial roadmap and maintain its leadership in photonic quantum computing, leveraging access to public markets for growth [13] - The company is positioned to enable scalable, networked systems and commercial quantum applications, which may enhance its competitive edge in the emerging quantum computing sector [2][13]