Pasqal (PSQL), the Complete Commercial History Since 2019

Pasqal began trading on Nasdaq on 28 August 2026 under the ticker PSQL, with its warrants under PSQLW. The company reached the public market by merging with Bleichroeder Acquisition Corp. II, a shell company created to take a private business public, whose shareholders approved the deal on 25 August 2026. The combination left about $360 million of cash on the balance sheet at closing, according to the company. That is the number that matters most, because it sets how long Pasqal can fund a hardware roadmap before it needs to raise again. Pasqal builds quantum computers out of neutral atoms. It was founded in France in 2019, it has seven machines deployed and three more being built, and one of its co-founders won the Nobel Prize in Physics in 2022. This page traces how a spin-out from a French optics laboratory became a Nasdaq-listed company, and what the filings and the science actually say. 1. A neutral-atom quantum computer company. Pasqal holds individual atoms in place with focused laser beams and uses them as qubits. Every atom of a given element is identical, so there is no manufacturing variation between qubits to calibrate away. The machines need no dilution refrigerator,…