Xanadu Quantum files to register 293.6 million shares for resale

Xanadu Quantum Technologies Limited (NASDAQ: XNDU) filed a prospectus to register up to 293.7 million Class B subordinate voting shares for potential resale by existing shareholders, according to a company filing.

The registration covers shares from multiple sources following Xanadu's business combination with Crane Harbor Acquisition Corp. The largest portion consists of 254.7 million shares issuable upon conversion of multiple voting shares issued in the merger.

Additional shares in the registration include 27.5 million shares from private placements completed November 3, 2025, 7.3 million founder shares originally issued to Crane Harbor Sponsor LLC, and smaller amounts from various warrant exercises and legacy shareholder distributions.

The company will not receive proceeds from the share sales by existing holders, except for amounts collected from warrant exercises. Xanadu will cover registration costs while selling shareholders will pay sales commissions and fees.

Xanadu's Class B subordinate voting shares trade on Nasdaq and the Toronto Stock Exchange under the symbol "XNDU." The shares closed at $29.10 on Nasdaq and C$39.45 on the TSX on April 30, 2026.

The quantum computing company operates as a foreign private issuer under U.S. securities laws, which exempts it from certain disclosure requirements and procedural rules that apply to domestic companies. This status also allows the company to follow home country governance practices instead of some Nasdaq corporate governance rules.

Xanadu has elected to comply with reduced reporting requirements available to emerging growth companies under federal securities laws.

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