In March 2026, French quantum computing company Pasqal announced a major business combination with Bleichroeder Acquisition Corp II, a SPAC (Special Purpose Acquisition Company). Through this merger, Pasqal plans to become a publicly listed company on the Nasdaq stock exchange.
The deal values Pasqal at a pre-money valuation of around $2 billion. Along with the merger, the company is expected to receive approximately $200 million in convertible financing, which will help accelerate its technology development and global expansion.
Industry experts believe this deal is an important milestone for the quantum computing sector because companies in this field require significant capital for long-term research and technological development.
Bleichroeder Acquisition Corp II
Bleichroeder Acquisition Corp II is a SPAC created specifically to merge with high-growth private companies and help them become publicly traded businesses.
Key Highlights
- Listed on Nasdaq with the ticker BBCQ
- Focuses on identifying innovative technology companies
- Uses SPAC mergers to take private companies public
In the SPAC model, investors first provide capital to the SPAC, which later merges with a private company. After the merger, the private company effectively becomes a publicly listed entity.
Pasqal
Pasqal is a leading quantum computing company headquartered in France.
Key Information
- Founded in 2019
- Headquarters: France
- Around 275 employees
- More than 70 PhD researchers and scientists
The company specializes in neutral-atom quantum computing technology, which is considered one of the most promising approaches to building scalable quantum computers.
One of the co-founders of Pasqal is Alain Aspect, the winner of the Nobel Prize in Physics in 2022.
What Is Quantum Computing?
Quantum computing is a next-generation computing technology that uses the principles of quantum mechanics to perform calculations much faster than traditional computers.
Potential Applications
- Drug discovery and pharmaceutical research
- Artificial intelligence development
- Logistics and supply chain optimization
- Complex financial modeling
Because of its enormous potential, governments and technology companies around the world are investing billions of dollars in this field.
Key Details of the Merger Deal
1. Company Valuation
- Pasqal valuation: $2 billion (pre-money)
- Estimated market value after the merger: around $2.6 billion
This valuation reflects growing investor confidence in the future of quantum computing.
2. Total Funding
Following the merger, Pasqal could gain access to more than $600 million in capital.
Sources of funding include:
- SPAC trust capital
- $200 million convertible financing
- Existing Pasqal cash reserves
This funding will provide strong financial support for the company’s long-term growth.
3. Public Listing Plan
After the business combination is completed, Pasqal is expected to be listed on Nasdaq sometime in 2026.
Becoming a public company will help Pasqal attract more global investors and increase its visibility in the technology market.
How Pasqal Plans to Use the Funds
1. Development of Advanced Quantum Computers
The company plans to build more powerful quantum processors and expand its hardware capabilities.
2. Global Expansion
Pasqal aims to expand its presence across:
- Europe
- United States
- Asia
- Middle East
This will help the company reach more enterprise customers and research institutions.
3. Research and Development
A significant portion of the funding will be invested in R&D to develop fault-tolerant quantum computers, which are essential for real-world applications.
Pasqal’s Current Market Position
Pasqal has already made significant progress in commercial quantum computing.
Key achievements include:
- 7 quantum computers already deployed
- 3 additional systems currently under development
- Around $80 million order pipeline
These figures indicate that quantum computing is gradually moving from research labs to real-world industrial applications.
Competition in the Quantum Computing Industry
Pasqal operates in a rapidly growing but highly competitive industry. Several companies are working on similar technologies, including:
- IonQ
- Rigetti Computing
- D‑Wave Systems
Many of these companies have also entered public markets through SPAC mergers.
Why This Deal Is Important
The merger between Bleichroeder Acquisition Corp II and Pasqal is significant for several reasons:
- It signals strong investor interest in quantum computing
- It provides Pasqal with large capital for expansion
- It strengthens Europe’s position in advanced technology innovation
- It accelerates commercialization of quantum technologies
Experts believe quantum computing could transform industries over the next 10–20 years.
Outcome
The merger between Bleichroeder Acquisition Corp II and Pasqal represents more than just a corporate deal. It highlights the growing importance of quantum computing in the global technology landscape.
With billions in valuation, strong funding, and cutting-edge technology, Pasqal is positioning itself as a major player in the future of advanced computing.
Source: pasqal newsroom
