Xanadu Quantum Technologies and Crane Harbor Acquisition Corp. Announce Confidential Submission of Draft Registration Statement for Proposed Business Combination

Xanadu Quantum Technologies and Crane Harbor Acquisition Corp. have submitted a draft registration statement on Form F-4 for their proposed business combination, with an expected pro forma enterprise value of approximately US$3.1 billion and pro forma market capitalization of US$3.6 billion. The combined company, Xanadu Quantum Technologies Limited, will be capitalized with approximately US$500 million in gross proceeds, including US$275 million from a group of strategic and institutional investors. The transaction is subject to customary closing conditions, including shareholder approval and stock exchange listing.