Pasqal and Bleichroeder File F-4 for Business Combination

Paris and New York - Pasqal, a leader in neutral-atom quantum computing, and Bleichroeder Acquisition Corp. II (NASDAQ: BBCQ) have announced the public filing of their joint registration statement on Form F-4 with the U.S. Securities and Exchange Commission. This filing represents a significant step in their proposed business combination, which was initially announced on March 4, 2026.

The proposed transaction values Pasqal at $2.0 billion pre-money. Upon the completion of the deal, the combined entity is expected to operate as Pasqal Holding SA and will be listed on Nasdaq. The transaction is projected to provide approximately $500 million in gross proceeds to support the company's roadmap for fault-tolerant quantum computing and its global operational expansion.

Transaction Details

• Valuation: $2.0 billion pre-money
• Expected Proceeds: Approximately $500 million
• Future Listing: Nasdaq
• Expected Closing: Second half of 2026

Pasqal currently stands as a major player in the quantum sector, operating a full stack compute solution with neutral-atom quantum processing units (QPUs). The company has already deployed seven QPUs in the field, with three more in production. Their technology supports over 25 identified industrial use cases, backed by partnerships with major technology organizations like NVIDIA, IBM, and Google Cloud.

The company recently achieved several industry firsts, including the deployment of a quantum computer for Saudi Aramco inside a standard data center and the successful implementation of logical qubits to solve differential equations. Pasqal also remains a finalist in the XPRIZE Quantum Applications competition.