Xanadu–Crane Harbor SPAC

Xanadu–Crane Harbor SPAC (Nov 24, 2025): Canadian photonic quantum computing firm Xanadu announced that its SPAC merger with Crane Harbor Acquisition Corp. has entered a key regulatory step. A draft SEC F-4 registration statement was filed on Nov 24 for the deal, which implies a pro forma valuation of about $3.6 billion and roughly $500 million of combined financing (including a $275 M PIPE). Xanadu’s CEO Christian Weedbrook called this move “significant” for bringing Xanadu’s room-temperature quantum computers to the public markets. If completed (expected Q1 2026), the combination would make Xanadu “the first and only publicly traded pure-play photonic quantum computing company”.