Pasqal goes public via SPAC merger with $360M in cash
What's the deal? Pasqal, a French neutral-atom quantum computing company, has completed its business combination with Bleichroeder Acquisition Corp. IIDealroom has a profile for this one. Try Dealroom →, a special purpose acquisition company (SPAC). The merged entity, Pasqal Holding SADealroom has a profile for this one. Try Dealroom →, expects to begin trading on Nasdaq on August 28, 2026, under the ticker "PSQL," with roughly $360 million in cash at closing.
How it works: Bleichroeder shareholders approved the deal on August 25, 2026. Following a series of mergers, the surviving company continues under the Pasqal name, while Bleichroeder's Class A shares, warrants, and units cease trading.
What's the endgame? Co-founded by Nobel Prize-winning physicist Alain Aspect, Pasqal has seven quantum processing units (QPUs) deployed and three more in production. It plans to use the fresh capital to expand QPU manufacturing, advance its roadmap toward fault-tolerant quantum computing, and scale commercial operations worldwide.
The details: Pasqal's QPUs are available via cloud access globally and support more than 25 commercial and research applications across energy, financial services, and materials science. It says its systems run in standard data center environments and integrate with existing high-performance computing infrastructure.
What they said: "Today is not a finish line; it is an acceleration point," said chief executive officer Wasiq Bokhari. "As a public company, we will have a stronger platform to move faster, serve customers around the world and build enduring value for shareholders."
The signal: A Nasdaq listing gives Pasqal a long-term capital platform in a field where hardware development is expensive and commercial payoffs remain years out. The SPAC route offers one of Europe's leading pure-play quantum firms access to US public markets and the funding needed to compete on the path toward fault-tolerant machines.
Read more: Business Insider
Image credit: IBM Research
