Xanadu Announces $300 Million Synthetic At-The-Market Program

Insider Brief

Xanadu Quantum Technologies announced a synthetic at-the-market equity facility of up to $300 million with Yorkville Advisors to provide flexible access to capital for scaling its photonic quantum computing roadmap.

The three-year agreement allows Xanadu to issue and sell Class B subordinate voting shares to Yorkville Advisors through private placements on an opportunistic basis, depending on market conditions and valuation levels.

Xanadu said proceeds from the facility, if used, would go directly to the company for working capital and general corporate purposes, with no secondary share sales by existing shareholders.

PRESS RELEASE — Xanadu Quantum Technologies Limited (“Xanadu” or the “Company”; (Nasdaq: XNDU) (TSX: XNDU), a leading photonic quantum computing company, today announced that it has entered into a synthetic at-the-market equity facility for up to $300 million (the “Program”) with YA II PN, Ltd. (“Yorkville Advisors”). The Company intends to use the net proceeds, if any, for working capital and general corporate purposes.