Pasqal Holding SA acquires Bleichroeder Acquisition Corp. II
Acquisition Provisional 90% confidence first seen
Pasqal Holding SA completed a merger with the SPAC Bleichroeder Acquisition Corp. II, after which Pasqal began trading on Nasdaq under the ticker PSQL (with warrants PSQLW). The coverage says the deal closed with Pasqal reporting roughly $360 million in cash available and that the transaction valued Pasqal at about $2 billion in the prior funding round (with a pro forma market cap cited around $2.6 billion). This matters because it provides capital and public-market access to scale manufacturing, expand quantum processing units (QPUs), and invest in fault-tolerant development and related cloud/HPC software efforts.