Exchange Bulletin
Xanadu Quantum Technologies Limited (XNDU) To Trade On Toronto Stock Exchange
March 26, 2026
| Issuer: | Xanadu Quantum Technologies Limited (the "Company") |
| Security: | Class B Subordinate Voting Shares |
| Symbol: | XNDU |
| Number of securities issued and outstanding: | 43,284,437 Class B Subordinate Voting Shares |
| Number of securities reserved for issuance: | 347,446,890 Class B Subordinate Voting Shares |
| Trading currency: | CDN$ |
| Listing category: | Diversified |
| Transaction: | On November 3, 2025, the Company, Xanadu Quantum Technologies Inc. ("Old Xanadu") and Crane Harbor Acquisition Corp. (the "SPAC") entered into a business combination agreement pursuant to which, among other things, the Company will acquire Old Xanadu and the SPAC (the "Business Combination"). In connection with the Business Combination, the Company entered into subscription agreements for the private placement of an aggregate of 27,500,000 Class B Subordinate Voting Shares at a price of US$10.00 per share for aggregate gross proceeds of US$275,000,000 (the "PIPE Financing"). The PIPE Financing is expected to close concurrently with the closing of the Business Combination. |
| Listing date: | March 26, 2026 (as at 5:01 p.m.), subject to consummation of the Business Combination, closing of the PIPE Financing and obtaining the receipt of the Ontario Securities Commission ("OSC") for the Company's non-offering prospectus (the "Canadian Prospectus"). |
| Anticipated closing date: | March 26, 2026 |
| Posted for trading date: | March 27, 2026 (at the opening), subject to the Business Combination becoming effective, closing of the PIPE Financing and obtaining the receipt of the OSC for the Canadian Prospectus. |
| Other market(s): | The Class B Subordinate Voting Shares are expected to be listed on the Nasdaq Global Market under the symbol "XNDU". |
| Temporary market maker: | Independent Trading Group (ITG) Inc. |
| Investor relations: | Michael Trzupek Chief Financial Officer (437) 783-5815 michael.trzupek@xanadu.ai - or - Christian Weedbrook Chief Executive Officer (647) 382-4612 christian@xanadu.ai |
| Incorporation: | Business Corporations Act (Ontario) |
| Fiscal year end: | December 31 |
| Nature of business: | Founded in 2016, the Old Xanadu is a Canadian quantum hardware and software company. Old Xanadu also leads the development of PennyLane, an open-source software library for quantum computing and application development. |
| Transfer agent and registrar: | Computershare Investor Services Inc. at its principal office in Toronto. |
| Dividends: | The Company has never declared or paid cash dividends and it does not anticipate paying any cash dividends or making any distributions to shareholders in the foreseeable future. |
| Sponsorship: | Waived |
| Disclosure document: | Registration statement on Form F4 which was declared effective February 27, 2026 and is available at www.EDGAR.com. The Canadian Prospectus is expected to be dated March 25, 2026 and to be available at www.SEDARplus.com. Capitalized terms not otherwise defined herein are as defined in the disclosure documents. |
| TSX contact: | Selma Thaver, Managing Director, TSX Listings |