Xanadu Quantum to go public via $3.6 Billion SPAC merger
Photo by Markus Winkler on Unsplash
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.
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
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