Crane Harbor Acquisition Corp. and Xanadu have jointly announced a proposed combination that would result in the listing of the combined company's shares on both the Toronto Stock Exchange and Nasdaq, subject to approval. The Boards of Directors of both companies have unanimously approved the transaction, which is expected to generate approximately US$500 million in gross proceeds, assuming no redemptions from the Crane Harbor trust account. This includes a US$275 million fully committed common equity PIPE at $10.00 per share, with over 90% of the up-sized and oversubscribed PIPE capital coming from new strategic and institutional investors such as AMD, BMO Global Asset Management, CIBC Asset Management Inc., MMCAP Ventures, PlanetFirst, and Polar Asset Management Partners, alongside support from existing investors. Existing Xanadu shareholders and management will roll over 100% of their shares into the combined entity and will be subject to lock-up agreements post-closing. A conference call and webcast to discuss the transaction will be held at 8:30am ET on November 3, 2025, with a transcript to be filed with the SEC.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Crane Harbor Acquisition Corp. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9566976-en) on November 03, 2025, and is solely responsible for the information contained therein.
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