Xanadu Quantum Technologies Completes SPAC Merger, Set to Trade as 'XNDU' on Nasdaq
CHAC sits 36% above its 52-week low of $7.155.
Summary
Crane Harbor Acquisition Corp. has successfully closed its business combination with Xanadu Quantum Technologies Limited, marking the completion of the SPAC merger. This follows shareholder approval announced earlier this month via news and an 8-K filing. Xanadu is now positioned as the first publicly listed pure-play photonic quantum computing company and is expected to begin trading on Nasdaq and the Toronto Stock Exchange under the new ticker symbol "XNDU" on March 27, 2026. The transaction also included a US$275 million PIPE financing. This definitive closing is a critical milestone for CHAC, fulfilling its purpose as a SPAC and bringing a new technology company to the public market, which is a significant development for investors.
At the time of this announcement, CHAC was trading at $9.72 on NASDAQ in the Technology sector, with a market capitalization of approximately $291.3M. The 52-week trading range was $7.16 to $13.27. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.