Filed by Crane Harbor Acquisition Corp.
Pursuant to Rule 425
under the Securities Act of 1933, as amended
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934, as amended
Subject Company: Crane Harbor Acquisition Corp.
(Commission File No. 001-42617)
Set forth below is a transcript of Christian Weedbrook’s featured
video as part of Nasdaq’s “The Signal” series on February 19, 2026 in which the proposed business combination between
Crane Harbor Acquisition Corp. (“Crane Harbor”) and Xanadu Quantum Technologies Inc. (“Xanadu”) is discussed.
Intro: Christian Weedbrook, founder and CEO at Xanadu.
Prompt: What is your company solving for?
Christian Weedbrook: Xanadu is a quantum computing company.
Our mission is to build quantum computers that are useful and available to people everywhere. We’re a full stack company, which means
we actually build the quantum computers using light or photons, and we also have one of the most widely used software stacks in the industry
called Penny Lane.
Prompt: Who are your target partners?
Christian Weedbrook: Quantum computing will really change the
world in industries such as pharmaceuticals, material design and quantum chemistry, AI, finance and others. At Xanadu, we focus on quantum
chemistry applications and specifically in material design. We work with a lot of the major car companies on how to develop the next generation
batteries. Batteries that go 10 times longer range, 10 times faster to charge, also retaining their safety properties.
Prompt: What is the future of your industry?
Christian Weedbrook: We see a world uh, much akin to the internet,
early days of the internet, early days of microchips, where quantum computing will join that field.
It will be transformational. It’s not a different type of computing.
It’s a new way of doing computing, and the future will look very different once large-scale quantum computers arrive.
Prompt: What does it mean to be here at Nasdaq today?
Christian Weedbrook: I just walked here into the studio, a studio
that I’ve watched many interviews, since a young boy growing up in Australia. It’s quite inspirational to be here, and I’ve got to pinch
myself that it’s actually happening and I’m actually here. As a founder and CEO at Xanadu, uh, most of my life is taken up with uh, focusing
on running the company. I’m just so excited about seeing what the future holds and being a part of a workforce of over 250 folks that
are all working together to achieve our mission. And it’s exciting times, and we’re really excited to be going public.
***
Additional Information
About the Proposed Transaction and Where to Find It
The proposed transaction
will be submitted to shareholders of Crane Harbor and Xanadu for their consideration. The combined company intends to file a registration
statement on Form F-4 (the “Registration Statement”) with the SEC, which will include a proxy statement/prospectus to be distributed
to Crane Harbor’s shareholders in connection with Crane Harbor’s solicitation for proxies for the vote by Crane Harbor’s
shareholders in connection with the proposed transaction and other matters to be described in the Registration Statement, as well as the
prospectus relating to the offer of the securities to be issued to Xanadu’s shareholders in connection with the completion of the
proposed transaction. After the Registration Statement has been filed and declared effective, a definitive proxy statement/prospectus
and other relevant documents will be mailed to Crane Harbor shareholders as of the record date established for voting on the proposed
transaction. Before making any voting or investment decision, Crane Harbor shareholders and other interested persons are advised to read,
once available, the definitive proxy statement/prospectus, as well as other documents filed with the SEC by Crane Harbor in connection
with the proposed transaction, as these documents will contain important information about Crane Harbor, Xanadu and the proposed transaction.
Shareholders may obtain a copy of the definitive proxy statement/prospectus, once available, as well as other documents filed by Crane
Harbor with the SEC, without charge, at the SEC’s website located at www.sec.gov or by directing a written request to Crane Harbor
Acquisition Corp., 1845 Walnut Street, Suite 1111, Philadelphia, PA 19103.
Forward-Looking Statements
This communication includes
“forward-looking statements” within the meaning of the U.S. federal securities laws and “forward-looking information”
within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements
may be identified by the use of words such as “plan,” “project,” “will,” “anticipate,”
“seek,” “estimate,” “intend,” “expect,” “believe,” “target,” “continue,”
“could,” “may,” “might,” “possible,” “potential,” “predict” or
similar expressions that predict or indicate future events or trends or that are not statements of historical matters. We have based these
forward-looking statements on current expectations and projections about future events. These statements include: projections of market
opportunity, market share and the growth of the quantum computing industry; estimates of customer penetration rates and usage patterns;
projections regarding Xanadu’s ability to commercialize new products and technologies and achieve technological milestones, including
its ability to build quantum computers using light or photons; projections of development and commercialization costs and timelines; expectations
regarding Xanadu’s ability to execute its business model and the expected financial benefits of such model; expectations regarding
Xanadu’s ability to attract, retain, and expand its customer base; Xanadu’s deployment of proceeds from capital raising transactions;
Xanadu’s expectations concerning relationships with strategic partners, suppliers, governments, state-funded entities, regulatory
bodies and other third parties, including automotive manufacturers; Xanadu’s ability to maintain, protect, and enhance its intellectual
property; future partnerships, ventures or investments in companies, products, services, or technologies; development of favorable regulations
affecting Xanadu’s markets; the successful consummation and potential benefits of the proposed transaction and expectations related
to its terms and timing; the potential for Xanadu to increase in value; Xanadu’s ability to compete effectively in the quantum computing
market; Xanadu’s ability to produce quantum computers that are useful and available to people everywhere; expectations that quantum
computing will transform industries such as pharmaceuticals, material design, quantum chemistry, artificial intelligence, and finance;
Xanadu’s ability to develop next-generation batteries with significantly improved range and charging speed while retaining safety properties;
expectations regarding the transformational impact of quantum computing similar to historical technology developments such as the internet
and microchips; Xanadu’s ability to effectively scale quantum computing; Xanadu’s ability to effectively scale infrastructure
in a secure manner; Xanadu’s ability to build secure connections across every device, workload and machine.
These forward-looking statements
are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance,
a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict
and will differ from assumptions, many of which are beyond the control of Xanadu and Crane Harbor.
These forward-looking
statements are subject to known and unknown risks, uncertainties and assumptions that may cause the actual results of the combined
company following the proposed transaction, levels of activity, performance or achievements to be materially different from any
future results, levels of activity, performance or achievements expressed or implied by such statements. Such risks and
uncertainties include: that Xanadu is pursuing an emerging technology, faces significant technical challenges and may not achieve
commercialization or market acceptance; Xanadu’s historical net losses and limited operating history; Xanadu’s
expectations regarding future financial performance, capital requirements and unit economics; Xanadu’s use and reporting of
business and operational metrics; Xanadu’s competitive landscape; Xanadu’s dependence on members of its senior
management and its ability to attract and retain qualified personnel; the potential need for additional future financing;
Xanadu’s ability to manage growth and expand its operations; potential future acquisitions or investments in companies,
products, services or technologies; Xanadu’s reliance on strategic partners and other third parties; Xanadu’s
concentration of revenue in contracts with government or state-funded entities; Xanadu’s ability to maintain, protect and
defend its intellectual property rights; risks associated with privacy, data protection or cybersecurity incidents and related
regulations; the use, rate of adoption, and regulation of artificial intelligence and machine learning; uncertainty or changes with
respect to laws and regulations; uncertainty or changes with respect to taxes, trade conditions and the macroeconomic environment;
the combined company’s ability to maintain internal control over financial reporting and operate as a public company; the
possibility that required regulatory approvals for the proposed transaction are delayed or are not obtained, which could adversely
affect the combined company or the expected benefits of the proposed transaction; the risk that shareholders of Crane Harbor could
elect to have their shares redeemed, leaving the combined company with insufficient cash to execute its business plans; the
occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement;
the outcome of any legal proceedings or government investigations that may be commenced against Xanadu or Crane Harbor; failure to
realize the anticipated benefits of the proposed transaction; the ability of Crane Harbor or the combined company to issue equity or
equity-linked securities in connection with the proposed transaction or in the future; and other factors described in Crane
Harbor’s filings with the U.S. Securities and Exchange Commission (“SEC”). These forward-looking statements are
based on certain assumptions, including that none of the risks identified above materialize; that there are no unforeseen changes to
economic and market conditions, and that no significant events occur outside the ordinary course of business. Additional information
concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by
Xanadu Quantum Technologies Limited (“NewCo”), Crane Harbor or the combined company resulting from the proposed
transaction with the SEC, including under the heading “Risk Factors.” If any of these risks materialize or assumptions
prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition,
these statements reflect the expectations, plans and forecasts of Xanadu’s and Crane Harbor’s management as of the date
of this communication; subsequent events and developments may cause their assessments to change. While Xanadu or Crane Harbor
may elect to update these forward-looking statements at some point in the future, they specifically disclaim any obligation to do
so, unless required by applicable securities laws. Accordingly, undue reliance should not be placed upon these statements.
In addition, statements that
“we believe” and similar statements reflect the beliefs and opinions of Xanadu and Crane Harbor on the relevant subject. These
statements are based upon information available as of the date of this communication, and while they believe such information forms
a reasonable basis for such statements, such information may be limited or incomplete, and Xanadu’s or Crane Harbor’s statements
should not be read to indicate that they have conducted an exhaustive inquiry into, or review of, all potentially available relevant information.
These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.
An investment in Crane Harbor
is not an investment in any of Crane Harbor’s founders’ or sponsors’ past investments, companies or affiliated funds.
The historical results of those investments are not indicative of future performance of Crane Harbor, which may differ materially from
the performance of Crane Harbor’s founders’ or sponsors’ past investments.
Participants in the
Solicitation
NewCo, Crane Harbor, Xanadu
and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed
to be participants in the solicitation of proxies from Crane Harbor’s shareholders in connection with the proposed transaction.
Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Crane Harbor’s shareholders
in connection with the proposed transaction will be set forth in the proxy statement/prospectus when it is filed by NewCo with the SEC.
You can find more information about Crane Harbor’s directors and executive officers in Crane Harbor’s final prospectus related
to its initial public offering filed with the SEC on April 25, 2025 and in the Quarterly Reports on Form 10-Q filed by Crane Harbor with
the SEC. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests
will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors and other interested persons
should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may
obtain free copies of these documents from the sources described above.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation
of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities 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. This communication is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public
offering of the securities described herein in the United States or any other jurisdiction. No offer of securities shall be made except
by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or exemptions therefrom.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY
PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION
TO THE CONTRARY IS A CRIMINAL OFFENSE. This communication is not, and under no circumstances is to be construed as, a prospectus,
an advertisement or a public offering in any province or territory of Canada. In addition, no securities commission or similar regulatory
authority in Canada has reviewed or in any way passed upon this communication or the merits of any of the securities described herein
and any representation to the contrary is an offense.
