MMCAP reports shared 75,000 votes for Xanadu (XNDU) in 13G/A

Rhea-AI Filing Summary

Xanadu Quantum Technologies Ltd Schedule 13G/A amendment shows two joint filers report shared voting and dispositive power over 75,000 Class B Ordinary Shares. The filers state they beneficially own 0 shares, representing 0% of the class. The filing is signed on 05/05/2026.

Key Figures

Shared voting power: 75,000 shares Shared dispositive power: 75,000 shares Beneficially owned: 0 shares

3 metrics

Shared voting power 75,000 shares Class B Ordinary Shares (reported in Item 4(ii))

Shared dispositive power 75,000 shares Class B Ordinary Shares (reported in Item 4(iv))

Beneficially owned 0 shares Amount beneficially owned (Item 4(a)); Percent of class <b>0%</b>

Key Terms

Class B Ordinary Shares, Shared Voting Power, Joint Filing Agreement

3 terms

Class B Ordinary Shares financial

"Title and Item 2(d) reference the class of securities"

Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.

Shared Voting Power regulatory

"Item 4(ii) lists "Shared power to vote" with 75,000"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Joint Filing Agreement legal

"Exhibit 99.1 Joint Filing Agreement is referenced in Exhibit Information"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Xanadu Quantum Technologies Ltd

(Name of Issuer)

Class B Ordinary Shares

(Title of Class of Securities)

98390R102

(CUSIP Number)

05/04/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 98390R102

1

Names of Reporting Persons

MMCAP International Inc. SPC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 75,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 75,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP Number(s): 98390R102

1

Names of Reporting Persons

MM Asset Management Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 75,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 75,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Xanadu Quantum Technologies Ltd
(b)	Address of issuer's principal executive offices: 777 Bay Street, Suite 2400, Toronto, Ontario M5G 2C8 Canada
Item 2.
(a)	Name of person filing: i) MMCAP International Inc. SPC ii) MM Asset Management Inc.
(b)	Address or principal business office or, if none, residence: i) c/o Mourant Governance Services (Cayman) Limited, 94 Solaris Avenue, Camana Bay, P. O. Box 1348, Grand Cayman KY1-1108, Cayman Islands ii) 161 Bay Street, TD Canada Trust Tower, Suite 2240, Toronto, Ontario M5J 2S1 Canada
(c)	Citizenship: i) Cayman Islands ii) Ontario, Canada
(d)	Title of class of securities: Class B Ordinary Shares
(e)	CUSIP No.: 98390R102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 75,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 75,000
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

MMCAP International Inc. SPC

Signature:	Ulla Vestergaard
Name/Title:	Director
Date:	05/05/2026

MM Asset Management Inc.

Signature:	Hillel Meltz
Name/Title:	President
Date:	05/05/2026

Exhibit Information

Exhibit 99.1 Joint Filing Agreement

FAQ

What does the Schedule 13G/A for Xanadu (XNDU) report?

It reports joint filers holding shared voting and dispositive power over 75,000 Class B shares. The filing states 0 shares beneficially owned and 0% of the class, with signatures dated 05/05/2026.

Who are the filers listed on the Xanadu Schedule 13G/A?

The joint filers are MMCAP International Inc. SPC and MM Asset Management Inc. Addresses and citizenship are provided for each filer in the filing's Item 2 section.

What does "shared voting power" mean in this filing?

"Shared voting power" indicates two filers report the ability to jointly direct voting for 75,000 Class B shares. The filing lists the same figure for shared dispositive power.

Does the Schedule 13G/A indicate MMCAP owns more than 5% of Xanadu?

No. The filing is titled "Ownership of 5 Percent or Less of a Class" and reports 0% beneficial ownership for the Class B Ordinary Shares.

Is there an agreement among the filers in the Xanadu filing?

Yes. The filing references an Exhibit 99.1 Joint Filing Agreement, indicating the two entities filed jointly and disclosed shared powers over the specified shares.