Filed by Bleichroeder Acquisition 2 France
pursuant to Rule 425
under the Securities Act of 1933, as amended,
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934,
as amended
Subject Company: Bleichroeder Acquisition Corp. II (File No. 001-43045)
Pasqal Selected as Finalist in XPRIZE Quantum
Applications Competition
PARIS - May 11, 2026 - Pasqal,
a global leader in neutral-atom quantum computing, today announced that it has been selected as a finalist in the XPRIZE Quantum Applications
competition for its work toward reaching quantum advantage. Pasqal recently announced plans to go public through a business combination
with Bleichroeder Acquisition Corp. II.
XPRIZE Quantum Applications is a three-year global
competition with a grand prize of $5 million, designed to accelerate the development of quantum computing algorithms capable of addressing
real-world challenges. Sponsored by Google Quantum AI and the Geneva Science and Diplomacy Anticipator (GESDA), the competition highlights
growing global engagement in quantum innovation and reflects the field’s increasing technical maturity and feasibility. Pasqal was
selected from a highly competitive pool of 62 Wildcard Registration submissions, and is one of five teams selected to move forward.
“Being named a Finalist in the XPRIZE Quantum
Applications competition is a strong validation of Pasqal’s mission to turn quantum innovation into real-world value,” said
Loïc Henriet, Chief Technology Officer at Pasqal. “This recognition reflects the strength of our science, the rigor of the
independent judging process, and our focus on delivering measurable quantum advantage for applications that matter—across energy,
climate, and human health.”
Teams across the competition are addressing 11
pressing societal challenges, including clean energy, climate adaptation, and public health, demonstrating how quantum innovation can
help advance the UN Sustainable Development Goals.
In the next phase of the competition, Pasqal will
undergo deeper technical evaluation focused on demonstrating credible progress toward measurable quantum advantage, supported by clear
evidence of real-world impact and technical feasibility. Final competition results will be announced in 2027.
About Pasqal
Pasqal is a global leader in delivering practical
quantum computing at scale utilizing neutral atom technology and dedicated software for industry, science, and governments. Since its
founding in 2019, Pasqal has leveraged Nobel Prize winning research to build high-performance quantum systems and cloud-ready software
designed to address complex challenges in optimization, simulation, and artificial intelligence.
Headquartered in France, Pasqal employs over 275
people and serves over 25 clients and partners, including CMA CGM, OVHcloud, Thales, IBM (Pasqal is part of the IBM Quantum Network),
and Sumitomo.
Backed by more than USD 500 million in total funding
from leading international investors, Pasqal is accelerating the adoption of scalable, high-performance quantum computing worldwide.
Contacts
Investors
investors@pasqal.com
Media
pr@pasqal.com
About XPRIZE
XPRIZE is the recognized global leader in designing
and executing large scale competitions to solve humanity’s greatest challenges. For over 30 years, our unique model has democratized
crowd-sourced innovation and scientifically scalable solutions that accelerate a more equitable and abundant future. Donate, learn more,
and co-architect a world of abundance with us at XPRIZE.org.
Forward-Looking Statements
Certain statements herein may be considered
“forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements generally are accompanied by words such as “believe,” “may,”
“might”, “will,” “estimate,” “continue,” “anticipate,” “intend,”
“expect,” “should,” “would,” “could,” “plan,” “predict,”
“project”, “forecast,” “believe,” “potential,” “seem,” “seek,” “target,”
“possible,” “future,” “outlook” or similar terminology or expressions that predict or indicate
future events or trends. These forward-looking statements include, but are not limited to, statements regarding future events, and the
proposed business combination between Bleichroeder Acquisition Corp. II (“Bleichroeder”) and Pasqal Holding SAS
(“Pasqal”).
These statements are based on current expectations
and are not predictions of actual performance. They are provided for illustrative purposes only and must not be relied on as a guarantee,
prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and
are beyond the control of Bleichroeder and Pasqal. These statements are subject to known and unknown risks, uncertainties and
assumptions regarding Pasqal’s business and the business combination, and actual results may differ materially. These
risks and uncertainties include, but are not limited to: general economic, political, social and business conditions; uncertainty or
changes with respect to laws and regulations; the inability of the parties to consummate the business combination failure to
realize the anticipated benefits of the business combination; the risk that the business combination disrupts Pasqal’s current
plans and operations; the risk from Pasqal pursuing an emerging technology, facing significant technical challenges
and the potential that it may not achieve commercialization or market acceptance; Pasqal’s reliance on
strategic partners and other third parties; Pasqal’s ability to maintain, protect and defend its intellectual property rights; and
other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission (the “SEC”).
The foregoing list of risk factors is not exhaustive. There may be additional risks that Pasqal and Bleichroeder presently
do not know or currently believe are immaterial that could also cause actual results to differ from those contained in
forward-looking statements. In addition, forward-looking statements provide Pasqal’s and/or Bleichroeder’s expectations,
plans and forecasts of future events and views as of the date of this communication. While Pasqal and/or Bleichroeder may elect to
update these forward-looking statements in the future, Pasqal and Bleichroeder specifically disclaim any obligation
to do so.
Additional Information and Where to Find It
The business combination will be submitted to
shareholders of Bleichroeder for their consideration. In connection with the business combination, Bleichroeder intends
to file a registration statement on Form F-4 (the “Registration Statement”) with the SEC, which will include a proxy statement/prospectus
and certain other related documents, which will serve as both the proxy statement/prospectus to be distributed to its shareholders
in connection with its solicitation for proxies for the vote by its shareholders in connection with the business combination and other
matters to be described in the Registration Statement, as well as the prospectus relating to the offer and sale of the securities to be
issued to Pasqal’s shareholders in connection with the completion of the business combination. This communication is not
a substitute for the Registration Statement, the definitive proxy statement/prospectus or any other document that Bleichroeder will
send to its shareholders in connection with the business combination.
BEFORE MAKING ANY INVESTMENT OR VOTING DECISION, INVESTORS
AND SECURITY HOLDERS ARE ADVISED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT
DOCUMENTS AND, IN EACH CASE, ANY AMENDMENTS THERETO, FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION, RELATED TRANSACTIONS AND THE PARTIES TO
THE BUSINESS COMBINATION. Investors and security holders will be able to obtain copies of these documents (if and when available)
and other documents filed with the SEC free of charge at www.sec.gov.
Participants in the Solicitation
Bleichroeder, Pasqal and certain of their
respective directors, executive officers, and other members of management, employees and consultants, under SEC rules, may be deemed participants
in the solicitation of proxies from Bleichroeder’s shareholders with respect to the business combination. A list of the
names of Bleichroeder’s directors and executive officers and a description of their interests in Bleichroeder and the
business combination is contained in the sections entitled “Management,” “Principal Shareholders,” and “Certain
Relationships and Related Party Transactions” of the Final Prospectus filed by Bleichroeder with the SEC on January 8,
2026 and the Current Report on Form 8-K filed with the SEC on January 9, 2026, each of which is available free of charge at the SEC’s
website at www.sec.gov. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of
proxies from Bleichroeder’s shareholders with respect to the business combination, and their direct and indirect interests,
will be contained in the Registration Statement and the proxy statement/prospectus when they become available.
No Offer or Solicitation
This communication is for informational purposes
only and is not (i) an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities, nor shall there
be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law nor (ii) the solicitation of any
vote in any jurisdiction pursuant to the business combination or otherwise. No offer of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933 or exemptions therefrom. No securities
commission or securities regulatory authority has in any way passed upon the merits of the business combination or the accuracy or
adequacy of this communication.
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