Quantum scale-up Pasqal plans $2B SPAC listing, promises to ‘remain French’

French quantum computing company Pasqal is going public via a SPAC merger with Bleichroeder Acquisition Corp II, valuing it at $2 billion pre-money with a projected market cap of ~$2.6 billion. The deal is accompanied by a $200 million private funding round from investors including Quanta Computer, LG Electronics, and CMA CGM. Pasqal plans a dual listing on Nasdaq (2026) and Euronext (2026-2027), following a similar move by Finnish rival IQM. The company, which uses neutral atom technology co-founded by Nobel laureate Alain Aspect, is committed to remaining a French legal entity headquartered in Palaiseau. It aims to build a fault-tolerant quantum computer by end of decade and plans to double production capacity within 24 months. The announcement also reveals an executive reshuffle, with Wasiq Bokhari now serving as CEO and Loïc Henriet returning to CTO.