Pasqal Shares Nearly Double in Nasdaq Debut

Insider Brief

• Pasqal shares rose 95.2% to $19.11 in the French quantum computing company’s first day of Nasdaq trading.
• The company went public through a merger with Bleichroeder Acquisition Corp. II that provided approximately $360 million in cash.
• Pasqal plans to use the capital to expand system production and deployment, grow commercial operations and advance fault-tolerant quantum computing.

Pasqal shares nearly doubled during the French quantum computing company’s first day of trading on Nasdaq, reflecting strong investor interest in one of Europe’s leading quantum hardware developers.

The shares closed Friday at $19.11, up 95.2% from Bleichroeder Acquisition Corp. II’s previous closing price of $9.79. Pasqal opened at $16.98 and traded as high as $20.10 before retreating from the session peak. About 3.7 million shares changed hands during the day. Pasqal now trades under the ticker symbol PSQL, while its warrants trade as PSQLW. Market data showed the shares fell about 10% in after-hours trading.

The debut followed Pasqal’s merger with Bleichroeder, a special purpose acquisition company, or SPAC. Bleichroeder shareholders approved the combination Aug. 25, and the companies completed the transaction Aug. 27.