French quantum computing company Pasqal has agreed to go public on the Nasdaq through a merger with Bleichroeder Acquisition Corp. II. The transaction values Pasqal at a $2 billion pre-money equity value.
This deal will make Pasqal the first French quantum computing firm to achieve unicorn status. The merger is expected to close in the second half of 2026.
The transaction should provide Pasqal with over $600 million in gross proceeds. This total includes $200 million in convertible financing.
2022 Nobel Prize laureate Alain Aspect co-founded the company, which develops neutral atom quantum computers for various industries. Pasqal intends to use the funds to accelerate its technology roadmap and advance the commercialization of its quantum processing units. The capital will also support the firm's global expansion.