French quantum computing firm Pasqal completes SPAC merger and goes public

French quantum computing company Pasqal has completed its Special Purpose Acquisition Company (SPAC) merger with Bleichroeder Acquisition Corp. II.

Following the deal’s close, Pasqal began trading on the Nasdaq on August 28.

The transaction has provided Pasqal with approximately $360 million in cash and the company plans to use the funds to support its growth, including expanding the manufacturing and deployment of its quantum processing units (QPUs), advancing its technology roadmap, and scaling its commercial operations globally.

“Today is not a finish line; it is an acceleration point,” said Wasiq Bokhari, CEO of Pasqal. “Pasqal was built to take neutral-atom quantum computing from foundational science to industrial-scale deployment. We have deployed quantum systems in real operating environments, connected our processors to the computing infrastructure customers already use and established a roadmap built on a single hardware platform that delivers state-of-the-art analog quantum computing today and is designed to enable industry-leading fault-tolerant quantum computing in the future … As a public company, we will have a stronger platform to move faster, serve customers around the world and build enduring value for shareholders.”