Business Description

Overview We are a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this Annual Report as our initial business combination. We have generated no operating revenues to date and we do not expect that we will generate operating revenues until we consummate our initial business combination. While we may pursue an initial business combination target in any industry or geographical location, we believe that the technology, real assets, and energy sectors offer particularly compelling business combination opportunities for our team. Specifically, we are interested in companies implementing transformative technologies to further advance the changing landscapes within global connectivity, sustainability, and continued infrastructure development. We believe significant opportunities exist in acquiring and merging with high-growth companies leading the charge in technology, real assets and energy. Our focus lies in identifying companies with disruptive solutions that demonstrate strong growth potential. We aim to accelerate their growth by providing them with operational and strategic expertise, access to new capital, and a pathway to public markets. Through active engagement and ongoing support, we strive to cultivate sustainable growth and deliver strong long-term returns for our investors. Our extensive sourcing network includes (i) business founders, owners and senior management contacts, (ii) marquee global funds including sovereign wealth funds and pension fund and a broad base of institution investors, (iii) private equity, financial investors and other sponsors of private businesses and (iv) industry professionals, including investment banking, legal, accounting and other industry focused experts. We believe our extensive network within our focus industries — technology, real assets and energy — provides access to highly attractive investment opportunities. Our management team’s combined experience and expertise offer unique insights into evaluating potential targets across numerous sectors. We plan to target businesses at inflection points in their life cycles, believing they can significantly benefit from our strategic guidance, capital infusion, and expertise. Our goal is to accelerate their business development, enhance their prospects, and unlock their full value. We are confident in our management team’s ability to significantly enhance the value of a target company. Their expertise spans strategic planning, financial planning, commercialization, capital markets navigation, and public company operations. This deep operational experience, coupled with our team’s proven track record in the public markets, positions us to deliver an attractive risk-adjusted return profile through our active involvement and comprehensive due diligence. In January 2025, Messrs. Brotman and Fradin formed Crane Harbor I, a special purpose acquisition company formed for substantially similar purposes as our company. Crane Harbor I completed its initial public offering in April 2025, raising gross proceeds of $220 million. Mr. Brotman serves as Chief Operating Officer and Chief Legal Officer of Crane Harbor I, Mr. Fradin serves as Chief Executive Officer of Crane Harbor I, Mr. Elliott serves as Chief Financial Officer of Crane Harbor I, our independent director Mr. Karlovich serves as a director of Crane Harbor I, our Executive Chairman and Vice Chairman, Jonathan Cohen and Edward Cohen, each serve as Chairman and Vice Chairman of the Board of Crane Harbor I, and Roger Fradin, who serves as a special advisor to us, also serves as a special advisor to Crane Harbor I. Crane Harbor I is not limited in its search for target businesses to any specific industry or geographic location, and no extensions have been sought to date by Crane Harbor I. On November 3, 2025, Crane Harbor I entered into a business combination agreement with Xanadu Quantum Technologies Inc., a corporation continued under the Business Corporations Act (Ontario), and Xanadu Quantum Technologies Limited, a corporation incorporated under the Business Corporations Act (Ontario).…