Insider Brief
- Pasqal completed its business combination with Bleichroeder Acquisition Corp. II and is expected to begin trading on Nasdaq under the ticker “PSQL” on Aug. 28.
- The transaction provided Pasqal with approximately $360 million in cash to expand QPU manufacturing, advance its technology and scale commercial operations.
- Pasqal has seven neutral-atom quantum processing units deployed, three more in production and more than 25 commercial and research applications.
PRESS RELEASE — Pasqal Holding SA (“Pasqal”), a global leader in neutral-atom quantum computing, and Bleichroeder Acquisition Corp. II (NASDAQ: BBCQ), a special purpose acquisition company (“Bleichroeder”), today announced the successful completion of their previously announced business combination.
Bleichroeder shareholders approved the business combination and related proposals on August 25, 2026. Following the completion of a series of mergers between Bleichroeder and Pasqal Holding SAS, the surviving company became Pasqal Holding SA and will continue to operate under the Pasqal name. Pasqal Holding SA’s ordinary shares and warrants are expected to begin trading on The Nasdaq Stock Market on August 28, 2026 under the ticker symbols “PSQL” and “PSQLW”, respectively. Bleichroeder’s Class A ordinary shares, warrants and units will cease trading.
The transaction establishes a strong capital foundation for Pasqal as a public company, with approximately $360 million of cash available at closing to accelerate global deployment of its quantum computing platform, support continued innovation and further expand commercial adoption worldwide.
Pasqal intends to deploy the additional capital across the priorities that define its next stage of growth: expanding the manufacturing and deployment of its quantum processing units (“QPUs”), advancing its technology roadmap toward fault-tolerant quantum computing, broadening access to its cloud and software platform, deepening integration with classical high-performance computing infrastructure and scaling its commercial operations globally.
“Today is not a finish line; it is an acceleration point,” said Wasiq Bokhari, Chief Executive Officer of Pasqal. “Pasqal was built to take neutral-atom quantum computing from foundational science to industrial-scale deployment. We have deployed quantum systems in real operating environments, connected our processors to the computing infrastructure customers already use and established a roadmap built on a single hardware platform that delivers state-of-the-art analog quantum computing today and is designed to enable industry-leading fault-tolerant quantum computing in the future. Our systems operate in standard data center environments and are built to scale with enterprise workloads. As a public company, we will have a stronger platform to move faster, serve customers around the world and build enduring value for shareholders.”
Pasqal begins its next chapter as a publicly traded company with a strong foundation of technological leadership, commercial deployment and global customer engagement. Co-founded by Nobel Prize-winning physicist Alain Aspect, the company has seven QPUs deployed today and three more in production. Its growing fleet of QPUs is available through cloud access globally and supports more than 25 commercial and research applications across industries including energy, financial services and materials science.
Pasqal’s neutral-atom technology offers a scalable and energy-efficient approach to quantum computing through a single hardware platform designed to deliver state-of-the-art analog quantum computing applications today while providing a clear path toward fault-tolerant quantum computing in the future. With one of the world’s largest installed bases of high-complexity quantum computers among pure-play quantum computing companies, a growing globally accessible cloud-based fleet of QPUs and a presence across North America, Europe, the Middle East and Asia, Pasqal is focused on accelerating commercial adoption and helping customers solve some of the world’s complex computational challenges.
Advisors
Lazard Freres SAS served as advisor to Pasqal’s Board. Orrick, Herrington & Sutcliffe LLP (France and US) served as legal counsel to Pasqal. Cantor Fitzgerald & Co. is serving as advisor to Bleichroeder. Reed Smith LLP (France and US) served as legal counsel to Bleichroeder. Cohen & Company Capital Markets acted as Lead Book-Running Manager for Bleichroeder’s initial public offering which closed on January 8, 2026.
