Here are the 10-Q quarterly reports from Bleichroeder Acquisition Corp. II Units (BBCQU) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BBCQU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BBCQU filings page.
Bleichroeder Acquisition Corp. II, a Cayman Islands SPAC, reported June 30, 2026 balance sheet assets of $293.4 million, driven by $292.3 million of IPO proceeds invested in a U.S. Treasury-focused trust. It has 28,750,000 Class A public shares redeemable at about $10.17 per share and 9,583,333 Class B founder shares.
For the six months ended June 30, 2026, the company recorded a net loss of $2.4 million, with $7.2 million of formation, general and administrative costs partially offset by $4.8 million of interest income from the trust. Cash outside the trust was $866,407 and working capital showed a $5.2 million deficit; management discloses that this liquidity position raises substantial doubt about its ability to continue as a going concern absent a business combination.
The SPAC completed its IPO on January 9, 2026, selling 28,750,000 units at $10.00 each and a concurrent private placement of 7,750,000 warrants, incurring $17.9 million in transaction costs, including $12.25 million of deferred underwriting fees. It has signed and amended a Business Combination Agreement to merge with French quantum computing company Pasqal, valuing Pasqal at $2.0 billion pre-money, alongside a committed $250 million private investment in $312 million of senior unsecured convertible bonds and associated warrants, to close concurrently with the merger.
Bleichroeder Acquisition Corp. II, a SPAC listed on Nasdaq, reported its first quarter as a public company and advanced its planned merger with quantum computing firm Pasqal.
As of March 31, 2026, it held $289.7 million in a trust account and recorded a net loss of $2.7 million, driven by $4.9 million of formation, general and administrative costs partly offset by $2.2 million of interest income on trust investments. The company completed a January IPO of 28,750,000 units, placing $287.5 million into the trust.
Management disclosed a working capital deficit of about $2.9 million and stated that these liquidity constraints raise substantial doubt about its ability to continue as a going concern absent a successful business combination or additional financing.
The signed Business Combination Agreement values Pasqal at $2.0 billion pre-money and requires at least $150 million of available cash at closing from the trust and external financing. A related private investment includes $250 million of senior unsecured convertible bonds and accompanying warrants for a $200 million purchase price, expected to fund concurrently with closing.