Congratulations to Crane Harbor Acquisition Corp. (Nasdaq: CHAC) and Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, on announcing their business combination to become the first and only publicly traded pure-play photonic quantum computing company. The company has achieved significant technological milestones, including the demonstration of quantum supremacy (Borealis), the first networked, modular, and scalable quantum computer (Aurora), and its industry-leading open-source software platform (PennyLane). The pro forma company is valued at an enterprise value of approximately $3.1B and the company has a $275M committed PIPE from a group of strategic and institutional investors participating in the transaction. Great work from the entire Xanadu team including both Christian Weedbrook, Rafal Janik and as well as the Crane Harbor team, including Bill Fradin and Jeff Brotman. https://lnkd.in/eHtkmCmh #Quantum #Computing #Technology #Data #AI #SPACs #CapitalMarkets #CCM #Xanadu
