Reuters: IPOX® VP Kat Liu on Xanadu’s $3.6B SPAC listing

As reported by Reuters, Canadian quantum computing firm Xanadu Quantum Technologies announced it will go public on Nasdaq via a merger with Crane Harbor Acquisition Corp. (CHAC), valuing the combined company at about $3.6 billion. The deal is expected to raise nearly $500 million, including a $275 million PIPE, amid accelerating interest in quantum computing from major tech and financial firms.

IPOX® was featured in the article with commentary from Kat Liu, Vice President at IPOX, who noted:

“The SPAC route provides a large, single-tranche capital infusion, extending the company's R&D runway and ensuring survival in a market where venture appetite for capital-intensive quantum projects has cooled.”

Read the full article by Arasu Kannagi Basil and Ateev Bhandari on Reuters: Canadian quantum computing firm Xanadu to list on Nasdaq via $3.6 billion SPAC deal