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.

Bleichroeder shareholders approved the business combination and related proposals on August 25, 2026. Following the completion of a series of mergers between Bleichroeder and Pasqal Holding SAS, the surviving company became Pasqal Holding SA and will continue to operate under the Pasqal name. Pasqal Holding SA’s ordinary shares and warrants are expected to begin trading on The Nasdaq Stock Market on August 28, 2026 under the ticker symbols “PSQL” and “PSQLW”, respectively. Bleichroeder’s Class A ordinary shares, warrants and units will cease trading.