Xanadu Announces $300 Million Synthetic At-The-Market Program
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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. The Program provides Xanadu with the ability, but not the obligation, to issue and sell to Yorkville Advisors up to $300 million of its Class B subordinate voting shares in private placements over a term of three years, subject to certain limitations and conditions in the Standby Equity Purchase Agreement between Xanadu and Yorkville Advisors dated May 20, 2026 (the “SEPA”). The Company expects to access the Program opportunistically, based on prevailing market conditions and valuation levels it believes to be favorable to shareholder value. Any net proceeds from the Program will be received directly by the Company. The Program consists exclusively of treasury offerings by the Company, with no secondary sales by existing shareholders. In connection with the launch of the Program, the Company plans to file a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the “SEC”), to qualify the re-sale of shares issued pursuant to the Program by Yorkville Advisors in accordance with applicable U.S. securities laws. “The Program will provide us with efficient and flexible access to capital as we continue scaling and executing on our long-term roadmap towards fault-tolerant quantum computing,” said Michael Trzupek, Chief Financial Officer of Xanadu. “Our objective is to strategically and prudently tap the equity market to enable us to remain well-positioned to fund our growth strategy.” A copy of the SEPA will be filed with the SEC (www.sec.gov) and the Canadian Securities Administrators (the “CSA”) (www.sedarplus.com). The descriptions contained in this press release are summaries only, do not purport to be complete, and are qualified in their entirety by reference to the agreement furnished as an exhibit to the Company’s Form 6-K filed with the SEC as of this date. This press release does not constitute an offer to sell or the solicitation of offers to buy any securities of Xanadu, and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Matt Swayne LinkedIn With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. matt@thequantuminsider.com Share this article: