Crane Harbor Acquisition Corp.
CHAC · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from Osprey / Crane Harbor (Jonathan Z. Cohen), listed on Nasdaq in April 2025.
- What it's doing now
- It agreed to buy XANADU QUANTUM TECHNOLOGIES FORMER SPAC INC., a photonic quantum computing hardware and software company. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- XANADU QUANTUM TECHNOLOGIES FORMER SPAC INC. — Xanadu is a Canadian quantum computing company with the mission to build quantum computers that are useful and available to people everywhere.
- Industry
- Information Technology — photonic quantum computing hardware and software
- Deal value
- not stated in the filings we hold
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 25 April 2025
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 777 BAY STREET, UNIT 2400, TORONTO, M5G2C8
- registered in the Cayman Islands
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Elliott Thomas C (Chief Financial Officer) · Brotman Jeffrey F (Chief Operating Officer & CLO) · COHEN EDWARD E (Director)
- Listed securities
- CHAC common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
At the 19 March 2026 event.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
2 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 25 April 2025IPOpassed
IPO size not on file
redemption rate not stated in the filing
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closedInformation Technology
What XANADU QUANTUM TECHNOLOGIES FORMER SPAC INC. does — read from xanadu.ai on 26 August 2026
Xanadu is a quantum technology company building photonic quantum computers and quantum software tools. The site highlights quantum hardware (on-chip error-resistant photonic qubits), quantum software (PennyLane and Catalyst), and partnerships with companies like Volkswagen and BMW for applications in battery simulation and quantum machine learning.
Quantum HardwareQuantum SoftwareQuantum ComputingDeal structureSEC-primary — BCA 8-K / S-4 / DEFM14A- Min-cash condition
- $150M
stated in:0001213900-26-021952
Who has already taken their money back
1 filed eventEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
19.43M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Mar 19, 2026Deal voteno rate stated
The score
deterministic, from filed fieldsCHAC is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 295 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Crane Harbor Acquisition Corp. (Nasdaq: CHAC) was a blank-check company whose IPO was priced on April 25, 2025, per 424B prospectus 0001213900-25-035533, with each unit consisting of one Class A Ordinary Share and one right entitling the holder to one-tenth of a share, and $10 held in trust per unit. The SEC assigned the company CIK 0002054174 and SIC industry code 6770. The common ticker CHAC appears on the cover page of 10-K 0001213900-26-013286, filed February 6, 2026. The vehicle completed a business combination and no longer files, with its closing established by Form 25 0001354457-26-000303 filed March 26, 2026 under 17 CFR 240.12d2-2(a)(3), after which the units, Class A Ordinary Shares, and rights came to evidence the successor's securities. EDGAR now lists this CIK under the name Xanadu Quantum Technologies Former SPAC Inc.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
The sponsor promote is quantified in the document itself: 7,333,333 Founder Shares bought for approximately $25,000 would be worth about $77,073,329 at the SPAC Class A closing price of $10.51 on the February 4, 2026 record date, a stated theoretical gain of $77,048,329. Trust held approximately $227,336,399, $10.46 per unit, as of February 27, 2026, against $220,000,000 at $10.00 per unit after the IPO. The PIPE is priced at $10.00 per NewCo Class B Subordinate Voting Share, and its investors include members and affiliates of Crane Harbor Sponsor, LLC.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Post-close outcome quality: 1 priced deSPAC vs trust value (prior vehicles against the $10.00 IPO baseline, in-DB vehicles against the trust they filed): median -51%, 0/1 still worth at least half of trust, 0 at under a tenth of it. Worst: Falcon Minerals Corp → Sitio Royalties Corp -51%. 1 more delisted with no surviving quote — scored as a total loss (a known outcome, not a gap), with no % invented. n=2, pulled toward neutral. 2 other completion(s) not priced (1 ticker could not be resolved; 1 no stored price) — left OUT of the ratio, not guessed.
Mixed record · medium confidence
- Osprey Energy Acquisition Corp · 2017→ Falcon Minerals Corp → Sitio Royalties CorpCompleted
- Osprey Technology Acquisition Corp. · 2019→ BlackSky Technology Inc.BKSYCompleted
- Crane Harbor Acquisition Corp. · 2025→ Xanadu Quantum Technologies LtdXNDUCompleted
Edward E. Cohen and Jonathan Z. Cohen (the Atlas Energy family, distinct from the Betsy/Daniel Cohen "Cohen Circle" fintech franchise) have sponsored blank-check vehicles as Osprey since 2017 and as Crane Harbor since 2024. Osprey Acquisition III (OSPR) and Crane Harbor II (CRAN) share four Section 16 filers, two of them officers at both — Brotman Jeffrey F and Elliott Thomas C. EDGAR formerNames also record that Osprey Technology Acquisition Corp. was originally registered as "Osprey Energy Acquisition Corp. II", which is the CIK-level proof that Osprey Energy and Osprey Technology are one series.
Full sponsor record →The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + R/10 · 100.0% of the $10 unit
from 424B4 0001213900-25-035533
Trading & liquidity
Company profile
Directors & officers
- Elliott Thomas CChief Financial Officer
- Brotman Jeffrey FChief Operating Officer & CLO
- COHEN EDWARD EDirector
- Ogunro Adekanbi KayodeDirector
- Litvin Eric T.Director
- Fradin WilliamChief Executive Officer
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
34 full SEC filing texts archived — searchable, never lost.
- Vault note — CHAC (Crane Harbor Acquisition Corp.)
vault-note · /vault/tickers/CHAC
- Vault deal note — XANADU QUANTUM TECHNOLOGIES FORMER SPAC INC. (CHAC)
vault-note · /vault/deals/xanadu-quantum-technologies-former-spac-inc
- Xanadu, Crane Harbor file F-4 for $3.1B merger | CHAC SEC Filing - Form 425
news · stocktitan.net
- Xanadu, Crane Harbor file F-4 for $3.1B merger | CHAC SEC Filing - Form 425
news · stocktitan.net
- Xanadu Quantum Technologies - Wikipedia
news · en.wikipedia.org
- Xanadu | Welcome to Xanadu
company-site · xanadu.ai
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail4 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001213900-25-035533 priced 2025-04-25; common ticker CHAC off 10-K 0001213900-26-013286 (2026-02-06); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-26-000303 (2026-03-26) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: unit, Class A Ordinary Shares, Right). EDGAR now files this CIK as "XANADU QUANTUM TECHNOLOGIES FORMER SPAC INC." — the SPAC's own name is kept here and the successor is the target. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "Crane Harbor Sponsor, LLC" (SEC CIK 0002064692) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-25-035150.
[CLOSED-RENAME] EDGAR CIK 0002054174 records "Crane Harbor Acquisition Corp." ending 2026-03-26; the registrant continues as "XANADU QUANTUM TECHNOLOGIES FORMER SPAC INC.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2026-03-26. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] minCashM=150 from primary filings (0001213900-26-021952).
OTHER -> QUANTUM, on 425 0001213900-26-034258: "Xanadu is a Canadian quantum computing company with the mission to build quantum computers that are useful and available to people everywhere."