French neutral-atom quantum computing pioneer Pasqal has cleared its biggest regulatory hurdle before going public. The company said the U.S. Securities and Exchange Commission declared the joint Form F-4 registration statement filed with Bleichroeder Acquisition Corp. II (Nasdaq: BBCQ) effective on August 5, 2026, setting an August 25 extraordinary general meeting to approve the business combination.
The Path To Nasdaq PSQL
Upon closing, the combined entity is expected to operate as Pasqal Holding SA and trade on Nasdaq under the ticker PSQL. The deal, announced earlier this year at a $2 billion pre-money valuation with $200 million of committed convertible financing, gives Pasqal a public-market platform to fund its 10,000-physical-qubit, 200-logical-qubit roadmap.
Commercial Momentum Since Deal Announcement
Pasqal has stacked milestones since revealing the merger. It demonstrated Italy's first neutral-atom quantum system alongside CINECA's Leonardo supercomputer, extended its South Korea push with MegazoneCloud, deepened financial-services work with Crédit Agricole CIB and led the €50M Q-PLANET consortium to industrialise neutral-atom quantum chips.
Sector Context
The PSQL listing would give Pasqal one of the deepest capital pools in neutral-atom quantum computing, joining an increasingly crowded pure-play cohort that includes IonQ, D-Wave, Rigetti and China's newly filed TuringQ. Pasqal now operates systems exceeding 1,000 physical qubits, one of the largest installed bases among pure-play quantum companies.
Reporting based on coverage from The Quantum Insider, Pasqal newsroom and SEC filings.