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Xanadu Quantum to go public via $3.6 Billion SPAC merger
Summary generated with AI, editor-reviewed
Heartspace News Desk
•Source: Reuters
Photo by Markus Winkler on Unsplash
TL;DR
Xanadu Quantum Technologies will go public on the Nasdaq via a merger with Crane Harbor Acquisition Corp., valuing the company at $3.6 billion. The deal is expected to generate about $500 million in capital for Xanadu, which hopes to capitalize on the current strength of the quantum computing sector.
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Key takeaways
- Xanadu Quantum Technologies, a Canadian quantum computing company, plans to go public on the Nasdaq through a merger with Crane Harbor Acquisition Corp
- Reuters reports the transaction values Xanadu at $3
- 6 billion and is anticipated to provide the company with approximately $500 million in capital, including a $275 million private investment
Xanadu Quantum Technologies, a Canadian quantum computing company, plans to go public on the Nasdaq through a merger with Crane Harbor Acquisition Corp. Reuters reports the transaction values Xanadu at $3.6 billion and is anticipated to provide the company with approximately $500 million in capital, including a $275 million private investment. According to Xanadu CEO Christian Weedbrook, the decision to pursue this SPAC merger was motivated by the strong performance of the quantum computing sector and the availability of capital in the public markets, positioning Xanadu alongside other quantum computing firms utilizing this pathway to public listing.
Related Topics
quantum computingSPACmergerNasdaqfundingtechnologyXanadu Quantum Technologies
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