French quantum computing company Pasqal is set to go public on the Nasdaq with a $2 billion valuation through a SPAC deal with Bleichroeder Acquisition Corp II, accompanied by a $200 million private funding round. This move comes shortly after Finnish competitor IQM’s similar decision to enter the public markets.
Pasqal, known for its full-stack quantum computing solutions, competes with major tech players by offering hardware, software, and cloud services to labs and industry partners, generating significant annual revenue. The SPAC merger with Bleichroeder Acquisition Corp II not only values Pasqal at $2 billion pre-money but also aims to provide the necessary resources for the company’s quantum computing ambitions.
By planning a dual US-European listing, Pasqal aims to reassure its French stakeholders, with Bpifrance remaining an active shareholder and board member. This strategic move allows Pasqal to leverage the US markets for scale and revenue opportunities while maintaining a strong European presence. The company’s upcoming Nasdaq listing in 2026 will be followed by a potential listing on Euronext later the same year or in 2027.
Source: TechCrunch