French quantum firm Pasqal to go public at $2 billion valuation

French quantum computing company Pasqal and Bleichroeder Acquisition Corp. II have announced that they have entered into a definitive business combination agreement following the consummation of which the go forward company will operate as Pasqal and is expected to be listed on Nasdaq. 

The proposed transaction is expected to close in the second half of 2026, subject to customary closing conditions, including regulatory and shareholder approval, according to a press release.

The deal values Pasqal at USD 2 billion pre-money, and contains USD 200 million in committed capital via convertible financing, which will allow Pasqal to deliver on its quantum roadmap and technology deployment, accelerate the company’s efforts in demonstrating quantum advantage and accelerate international commercial and organizational growth, the press release said.

“Built on Nobel Prize-winning research and supported by France’s deep national commitment to quantum innovation, Pasqal has already deployed quantum computers globally and is delivering real-world capability today,” said Michel Combes and Andrew Gundlach, Co-Sponsors of Bleichroeder Acquisition Corp. II. “We believe this partnership provides the capital and platform to accelerate Pasqal’s growth as a global leader in neutral atom quantum computing. We are proud to support Pasqal, which combines sovereign European roots with international ambition and the ability to scale to become a global quantum leader.”

“Pasqal brings a combination of some of the world’s leading neutral atom quantum computing technology, deep customer traction, commercial scaling and solid sovereign support,” said Wasiq Bokhari, CEO Pasqal Holding SAS. “This funding gives us the fuel to further cement our leadership in the quantum computing industry as a global shareholder-focused French company.”