The race for quantum supremacy is moving from the lab to the trading floor.

Toronto-based Xanadu Quantum Technologies Inc. has finalized its public debut after the SEC declared its registration statement effective for a merger with Crane Harbor Acquisition Corp. (NASDAQ:CHAC).

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The deal, expected to close in the final weeks of March 2026, will see the combined company list on both the Nasdaq and the Toronto Stock Exchange under the ticker XNDU. 

With roughly $500 million in gross proceeds expected, Xanadu is positioning itself as the definitive pure-play leader in photonic quantum computing—a technology that uses light rather than electricity to process information.

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Xanadu's arrival comes at a white-hot moment for the sector, following the ...