Overview
- The Canadian quantum computing firm plans a dual listing on Nasdaq and the TSX, which would mark the first tech debut on Canada’s senior exchange in more than four years if completed.
- Financing includes US$275 million in private investment from new and existing backers, with named participants such as AMD, BMO Global Asset Management, CIBC Asset Management, MMCAP Ventures, Planet First and Polar Asset Management Partners.
- Cash from Crane Harbor’s trust could contribute roughly US$220 million to US$225 million depending on shareholder redemptions, a common variable in SPAC transactions.
- Xanadu says it will deploy proceeds to advance its photonic hardware and software and is targeting a data‑centre‑scale quantum computer by 2029.
- The company has participated in DARPA’s Quantum Benchmarking Initiative, with a second‑stage selection update expected this week that could influence future U.S. funding opportunities.