Crane Harbor Acquisition Corp. has reported its financial results for the quarter ending September 30, 2025, revealing a net income of $1.9 million for the three-month period and a total net income of $3.1 million since its inception on January 2, 2025. The company generated this income primarily from interest earned on investments held in its Trust Account, which amounted to $2.4 million for the quarter and $3.8 million since inception. However, the company incurred formation and administrative costs of $506,898 for the quarter and $765,723 for the period from inception through September 30, 2025, resulting in a loss from operations.
Compared to the previous fiscal period, Crane Harbor's financial performance shows a significant increase in net income, attributed to the interest income from its Trust Account. The company has not yet commenced operations related to its intended business combinations, as all activities to date have focused on organizational efforts and the initial public offering (IPO). The IPO, completed on April 28, 2025, raised gross proceeds of $220 million from the sale of 22 million units, with an additional $6.4 million raised from the sale of private placement units.
As of September 30, 2025, Crane Harbor reported total assets of approximately $224.9 million, including $223.8 million held in the Trust Account. The company has a total of 22.6 million Class A ordinary shares and 7.3 million Class B ordinary shares outstanding. The Class A shares are subject to possible redemption, which is reflected in the financial statements as temporary equity. The company’s current liabilities stand at $338,635, with a deferred underwriting fee of $8.8 million also recorded.
Looking ahead, Crane Harbor Acquisition Corp. is actively pursuing a business combination and has entered into a business combination agreement with Xanadu Quantum Technologies Inc. If consummated, this transaction will result in the company transitioning to a new corporate structure and listing on the Nasdaq Stock Market. However, the company has expressed concerns regarding its liquidity and ability to continue as a going concern, emphasizing the need for additional capital to fund operations and complete its business combination. The management plans to address these challenges through the successful execution of a business combination before the end of the designated completion period.
About Crane Harbor Acquisition Corp.
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