Overview
- Pasqal and Bleichroeder Acquisition Corp. II completed their business combination on Aug. 27, creating Pasqal Holding SA and setting up a public listing.
- Pasqal began trading on Nasdaq on Aug. 28 under the ticker PSQL and its warrants under PSQLW, with shares jumping as much as 73% intraday before trading about 40% higher and implying a valuation near $2 billion.
- The transaction left Pasqal with about $360 million in cash at closing to accelerate deployment, product development and commercial rollout of its neutral‑atom quantum systems.
- Pasqal says it has seven quantum processing units deployed, three more in production, commercial customers such as Saudi Aramco and partnerships with NVIDIA and IBM, and manufacturing capacity in France and Canada to build up to 13 machines a year.
- The combined company's nine‑member board is chaired in a non‑executive role by co‑founder and Nobel laureate Alain Aspect and includes industry and financial leaders to guide scaling and corporate governance.