Xanadu strikes deal to raise up to $300 million USD

Toronto-based quantum computing firm Xanadu Quantum Technologies has struck a deal to raise up to $300 million USD ($414-million CAD), the same day it claimed a breakthrough that could make quantum operations significantly cheaper. The news: Xanadu revealed last week it was in negotiations to establish a $300-million USD synthetic at-the-market (ATM) equity facility—a popular fundraising mechanism that can help public companies quickly, quietly, and cheaply raise capital.