Pasqal Completes SPAC Merger With $360 Million in Cash

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.