EL7.AI
Mergers & AcquisitionsMedium•11 July 2026•
1 min read

Quantum Startup Pasqal to List on Nasdaq via $2bn SPAC Merger

Key Facts

1Pasqal Holding SAS is preparing for a Nasdaq listing through a merger with SPAC Bleichroeder Acquisition.
2The company is valued at $2bn pre-money, with plans to raise over $500m in fresh funding.
3Revenues grew nearly 5x to €16.5m in 2025, despite significant ongoing losses.

In a move reflecting the accelerating global race for advanced computing technology, Pasqal Holding SAS is preparing to list on the Nasdaq through a merger with Bleichroeder Acquisition. According to reports, the company is valued at $2 billion pre-money, with plans to raise over $500 million in fresh funding. Despite significant ongoing losses, the data showed robust revenue growth of nearly 5x, reaching €16.5 million in 2025.

This listing comes amid intense competition in the quantum computing sector, as firms like IonQ and Rigetti Computing (RGTI) strive to expand their market share; Rigetti reported annual revenues of $12.01 million for 2023 per its official financial filings. Pasqal’s $2 billion valuation represents a bet on its technical leadership, particularly its neutral-atom technology which distinguishes it from peers who are also facing profitability pressures during early growth stages.

Looking at the economic calendar, speeches from central bank officials such as the Fed's Waller and the ECB's Lagarde on July 6, 2026, may influence risk appetite in the tech and growth sectors, potentially impacting the momentum of new Nasdaq listings.