Crane Harbor Shareholders Approve Xanadu Quantum Business Combination
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Crane Harbor Acquisition Corp. Class A ( (CHAC) ) just unveiled an announcement.
On March 19, 2026, Crane Harbor Acquisition Corp. shareholders approved all proposals required to complete the previously announced business combination with Xanadu Quantum Technologies, including redomiciling the SPAC from the Cayman Islands to Ontario, Canada. The vote clears a key hurdle for Xanadu to consolidate under Xanadu Quantum Technologies Limited, while 19,428,395 Class A shares were redeemed for about $201.2 million in cash.
The deal is expected to close on March 26, 2026, after which the combined company’s stock is anticipated to begin trading on the Nasdaq and Toronto Stock Exchange under the ticker XNDU on March 27, 2026. The transaction is slated to deliver roughly $302 million in gross proceeds from Crane Harbor’s trust and a fully committed PIPE, positioning Xanadu to become the first publicly listed photonic quantum technology company and to fund its technical roadmap despite substantial SPAC redemptions.
More about Crane Harbor Acquisition Corp. Class A
Crane Harbor Acquisition Corp. is a Nasdaq-listed blank check company formed to execute mergers, share exchanges, asset acquisitions or similar business combinations with one or more businesses. Its latest transaction targets Xanadu Quantum Technologies, a Canadian leader in photonic quantum computing that develops room-temperature, light-based quantum hardware and the PennyLane software platform.
Average Trading Volume: 390,943
Technical Sentiment Signal: Strong Sell
Current Market Cap: $249.7M
Learn more about CHAC stock on TipRanks’ Stock Analysis page.
