Recent Updates — PSQL
Pasqal Holding SA announced an evolution of its collaboration framework with French public authorities on September 28, 2026, shifting focus from defense to commercial applications. The company terminated its participation in the LSQUARE (PROQCIMA) defense program after successfully completing technological objectives in the first phase. Pasqal has been invited to participate in new civil public support programs and requested by the SGPI and DGE to submit an R&D proposal for fault-tolerant quantum computing based on neutral atoms. This strategic pivot aims to accelerate the implementation of its FTQC roadmap beyond the scope of the previous defense program. The company operates in the quantum computing industry, building and operating neutral-atom quantum computers with a full software stack for commercial and scientific use.
Pasqal Holding SA filed a Form 6-K on September 24, 2026, attaching a press release and financial statements for the six months ended June 30, 2026. The company reported revenue of €4.9 million, a 14% increase year-over-year, driven by a 34% rise in QPU-related services to €3.9 million. Operating loss widened to €59.2 million from €19.8 million in the prior period, largely due to €37.5 million in share-based payments and one-time transaction charges associated with its recent business combination. Cash and cash equivalents stood at €110.8 million as of June 30, 2026, with total liquidity reaching approximately €312.9 million following the completion of the merger with Bleichroeder Acquisition Corp. II in August 2026. Pasqal operates in the quantum computing industry, building and operating neutral-atom quantum computers for enterprise and research applications.
On August 27, 2026, Pasqal Holding SA completed its business combination with Bleichroeder Acquisition Corp. II, resulting in the listing of its ordinary shares and warrants on Nasdaq under the symbols "PSQL" and "PSQLW," respectively. Trading is expected to commence on August 28, 2026. The transaction provides approximately $360 million in cash available at closing to accelerate global quantum-system deployment and commercial adoption. Pasqal operates in the technology industry, specifically designing and operating neutral-atom quantum computing systems.