Xanadu Quantum Technologies Ltd (XNDU) Form 6-K — Aug 28, 2026
Xanadu Quantum Technologies (NASDAQ/TSX: XNDU) has signed a definitive agreement with the Government of Canada for CAD $195 million in support through the Strategic Response Fund, the largest investment in quantum manufacturing in Canadian history. The funding formalizes the complete federal portion of the up to CAD $390 million in potential support announced for Project OPTIMISM on March 11, 2026. Under SRF Agreement No. 812-820235, the contribution is conditionally repayable and capped at the lesser of 22.10% of eligible supported costs or CAD $195 million, against total project costs of CAD $893,355,000.
Key figures
- Deal Value Usd
- CAD $195,000,000
- Agreement Expiry
- later of December 31, 2052 or date of last repayment
- Eligibility Date
- February 19, 2026
- Holdback Percent
- 10
- Facility Size Sq Ft
- 158000
- Total Project Costs
- CAD $893,355,000
- Repayment Term Years
- 20
- Contribution Formula
- lesser of 22.10% of Eligible Supported Costs or CAD $195,000,000
- Overdue Interest Rate
- Bank Rate + 300 basis points, compounded monthly
- Max Repayment Multiple
- 1.5x actual amount disbursed
- Project Completion Date
- March 31, 2031
- Total Potential Funding
- CAD $390,000,000
- Change In Control Threshold Public
- 20% of outstanding voting stock
AI analysis
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