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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
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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