Crane Harbor Acquisition Corp. 8-K

What Happened

• Crane Harbor Acquisition Corp. (CHAC) announced that shareholders approved its business combination with Xanadu Quantum Technologies (the “Business Combination”) at an Extraordinary General Meeting held March 19, 2026. The S-4 registration statement for the transaction was declared effective by the SEC on February 27, 2026. CHAC expects the Business Combination to close on or about March 26, 2026, and for Xanadu shares to begin trading on Nasdaq and the Toronto Stock Exchange under the ticker “XNDU” on or about March 27, 2026.

Key Details

• Record date and voting turnout: 29,973,333 Ordinary Shares were outstanding as of the February 4, 2026 record date; 20,907,539 shares (≈69.75%) were present online or by proxy at the meeting.
• Business Combination vote: For 17,591,379; Against 3,316,010; Abstain 150.
• Continuance to Ontario vote (to continue CHAC as an OBCA company and adopt articles/by‑laws): For 17,328,426; Against 3,316,060; Abstain 263,053.
• Redemptions: Holders of 19,428,395 Class A Ordinary Shares exercised redemption rights for cash at about $10.35 per share, totaling $201,153,641.83.

Why It Matters

• The shareholder approvals clear key legal and corporate steps to complete the merger and the company’s continuance to Ontario, enabling Xanadu to list publicly (Nasdaq & TSX) if closing conditions are met.
• Large redemptions (~$201.2M) will be paid in cash to redeeming Class A holders and reduce the cash available in the combined public company at closing; this affects the post‑closing cash base but the filing does not state post‑closing cash or pro forma balance.
• Timeline: investors should note the expected closing around March 26, 2026 and anticipated trading start around March 27, 2026; these dates are subject to customary closing conditions.