Bleichroeder Completes $2.0B Pasqal Merger, New Entity to Trade as PSQL
BBCQ is trading near its 52-week low of $9.17 (4.5% above the low).
Summary
Bleichroeder Acquisition Corp. II has completed its $2.0 billion merger with Pasqal, forming Pasqal Holding SA, which will begin trading on Nasdaq as 'PSQL' with a $360 million cash infusion.
Key Events · M&A and Partnerships · BBCQ
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Business Combination Completed
Bleichroeder Acquisition Corp. II (BBCQ) consummated its previously announced $2.0 billion business combination with Pasqal Holding SAS on August 27, 2026.
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New Public Entity & Trading
Bleichroeder merged into Parent Merger Sub, which then merged with Pasqal, forming 'Pasqal Holding SA.' The new entity's ordinary shares and warrants are expected to begin trading on Nasdaq under symbols 'PSQL' and 'PSQLW' respectively, effective August 28, 2026.
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Delisting of BBCQ Securities
Bleichroeder's units, Class A ordinary shares, and redeemable warrants (BBCQU, BBCQ, BBCQW) will cease trading on Nasdaq and will be delisted, as the company ceased to exist.
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Significant Capital Infusion
The transaction provides approximately $360 million of cash to Pasqal, establishing a strong capital foundation for its global quantum-system deployment and commercial adoption, and resolving Bleichroeder's prior 'going concern' warning.
Analysis · BBCQ · Real Estate & Construction
Bleichroeder Acquisition Corp. II has officially completed its $2.0 billion business combination with quantum computing firm Pasqal. This marks the final step in the SPAC's lifecycle, transforming it into Pasqal Holding SA, which will now trade on Nasdaq under the ticker 'PSQL'. The transaction provides approximately $360 million in cash to the new entity, a critical capital infusion that addresses Bleichrooder's previously disclosed 'going concern' warning and provides a strong foundation for Pasqal's growth.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 41.1% of the 372 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.38%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BBCQ was trading at $9.58 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $375.3M. The 52-week trading range was $9.17 to $11.43. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.