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Xanadu Quantum Technologies Ltd
Symbol XNDU
Shares Issued 55,655,379
Close 2026-09-18 C$ 10.40
Market Cap C$ 578,815,942
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Globe says Xanadu Quantum share lockup ends Tuesday

2026-09-21 09:22 ET - In the News

The Globe and Mail reports in its Monday edition that on Sept. 22, a lockup lifts for holders of the vast majority of Xanadu Quantum Technologies' stock, six months after it went public on Nasdaq. The Globe's Sean Silcoff writes that early shareholders including angel investors, venture capitalists, pension funds and banks will be free to sell for the first time. The stock quadrupled in value in its first few weeks and crashed just as quickly. Xanadu founder and chief executive officer Christian Weedbrook told The Globe that he's "really excited" about the lockup lifting. He said the 10-year-old company's small, freely tradeable float -- just 13 million of its 300 million shares up to now -- meant that the stock was vulnerable to "crazy" price swings. "The way to get around that is have more shares available," said Mr. Weedbrook, adding that the end of the lockup will make it easier for large institutions to invest. CIBC Capital Markets analyst Todd Coupland, who has a $22 (U.S.) stock price target, said in a Sept. 1 note that Xanadu (now $7.42) is entering a period in which it could hit several "technical de-risking" milestones. He advised investors to "use weakness around the Sept. 22 lockup" to buy.

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