Overview
- Pasqal completed its business combination with Bleichroeder Acquisition Corp. II on Aug. 27 and is expected to begin trading on Nasdaq under the tickers PSQL for shares and PSQLW for warrants.
- The transaction provides approximately $360 million in cash at closing to fund manufacturing and global deployment of Pasqal’s quantum processing units, expand software and cloud services, and advance its technology roadmap.
- Pasqal says it has seven quantum processing units deployed today and three more in production, with a cloud-accessible fleet that supports more than 25 commercial and research applications for customers such as Saudi Aramco, Crédit Agricole CIB, and LG Electronics.
- A nine-member board will govern the public company, chaired non-executively by co-founder and Nobel laureate Alain Aspect, with Michel Combes as lead independent director and a majority of directors independent under SEC and Nasdaq rules.
- Built on neutral-atom hardware that the company describes as scalable and energy efficient, Pasqal’s public listing creates a capital platform to integrate its QPUs with classical high-performance computing and accelerate commercial adoption while exposing the company to the usual technology and market risks disclosed in its filings.