Crane Harbor Acquisition Corp (NASDAQ:CHAC) rose Monday after the company announced a merger deal with Xanadu Quantum Technologies to form a dedicated photonic quantum computing firm.
TORONTO, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Xanadu Quantum Technologies, Inc. (“Xanadu”), a leading photonic quantum computing company, and Crane Harbor Acquisition Corp. (Nasdaq: CHAC), a publicly traded special purpose acquisition company (“Crane Harbor”), today announced that they have entered into a definitive business combination agreement with a newly formed entity, that is expected to result in Xanadu being the first and only publicly traded pure play photonic quantum computing company. Upon closing of the transaction, shares of the combined company are expected to trade on the Nasdaq Stock Market and on the Toronto Stock Exchange.
