Pasqal Holding SA (PSQL) is the issuer named in an ownership report identifying Investiqo SAS as beneficial owner of 12,382,286 ordinary shares, or 5.8% of the class, with sole voting and dispositive power. A separate ownership-power entry lists 12,832,286 shares for sole voting and dispositive power, while the stated beneficial-ownership amount and another power entry give 12,382,286. Investiqo SAS is described as a French société par actions simplifiée; Christophe Jurczak signed as President.
Pasqal Holding SA (PSQL) is the issuer named in a Schedule 13G in which four Quantonation reporting persons disclose beneficial ownership of its ordinary shares. Quantonation I reported beneficial ownership of 21,924,691 shares (10.3%); Quantonation Co-Investment SPV I, LLC reported 322,853 shares (0.2%); and Co-Invest II reported 2,200,858 shares (1.0%).
Quantonation Ventures SAS, the investment manager, may be deemed to beneficially own the shares held by those three entities and reported beneficial ownership of 24,448,402 shares (11.5%). The reported percentages are based on 212,293,691 ordinary shares outstanding as of September 1, 2026.
Pasqal Holding SA (PSQL) registered up to 17,333,333 Ordinary Shares for issuance upon exercise of Public and Private Placement Warrants, and up to 286,674,886 Ordinary Shares plus 7,750,000 Private Placement Warrants for resale by selling securityholders.
The issuance shares comprise 9,583,333 Public Warrant shares and 7,750,000 Private Placement Warrant shares, exercisable at $11.50 per Ordinary Share, subject to adjustment. Resale shares include up to 56,287,179 shares issuable upon Convertible Bond conversion, assuming a $7.80 conversion price and payment-in-kind interest accrued for three years from the Closing Date, and up to 50,080,128 shares issuable upon Investment Warrant exercise, assuming a $7.80 exercise price. Pasqal receives proceeds from cash exercises of Warrants and Investment Warrants, but not from securityholder resales or resale of the underlying shares.
Pasqal reported revenue of €16.4 million for the year ended December 31, 2025, and €4.9 million for the six months ended June 30, 2026. Net losses were €92.4 million in 2025 and €48.5 million in 2024.
Pasqal Holding SA (PSQL)’s updated prospectus covers up to 17,333,333 ordinary shares issuable upon warrant exercise, plus resale of up to 286,674,886 ordinary shares and 7,750,000 Private Placement Warrants; the post-effective amendment registers no additional securities.
Public and Private Placement Warrants are exercisable at $11.50 per ordinary share, subject to adjustment. Pasqal receives proceeds from cash exercises of Warrants or Investment Warrants, but none from selling securityholder resales or sales of shares issued upon exercise. It expects cash exercise proceeds to be used for general corporate purposes.
The amendment adds unaudited interim financial statements for the six months ended June 30, 2026. Pasqal reported €4.9 million in revenue and a €53.2 million net loss, compared with a €26.1 million net loss for the six months ended June 30, 2025. It reported approximately $360 million (€310 million) in cash available; booked and awarded business, including grants, was approximately $79.1 million (€70.4 million) as of June 30, 2026.
Pasqal Holding SA's prospectus supplement covers issuance of up to 17,333,333 ordinary shares upon warrant exercise and selling-securityholder resales of up to 286,674,886 ordinary shares and 7,750,000 Private Placement Warrants. Each Warrant is exercisable at $11.50 per ordinary share, subject to adjustment; Pasqal receives proceeds from cash exercises of Warrants or Investment Warrants.
Separately, Pasqal says its collaboration with French public authorities will now focus on commercial applications. It is ending its participation in LSQUARE (PROQCIMA) after the first phase, in which it says it completed all technological objectives. Pasqal has been invited to participate in civil public-support programs being defined, and the French SGPI and DGE requested a specific research and development program for fault-tolerant quantum computing based on neutral atoms.
Pasqal Holding SA announced a shift in its collaboration with French public authorities toward commercial applications and the end of its participation in the LSQUARE (PROQCIMA) defense program, after completing all technological objectives in the program’s first phase. The company said the change aligns with its growth strategy and innovation priorities.
Pasqal has been invited to participate in civil public support programs currently being defined. As an initial step, the Secrétariat général pour l’investissement (SGPI) and the Direction générale des entreprises (DGE) requested that Pasqal submit a research and development program for neutral-atom fault-tolerant quantum computing. Pasqal said the commercial-led approach will support implementation of its FTQC roadmap beyond the scope of PROQCIMA.
Pasqal Holding SA (PSQL) registered up to 17,333,333 ordinary shares issuable upon warrant exercise. The prospectus also covers selling securityholders’ resale of up to 286,674,886 ordinary shares and 7,750,000 Private Placement Warrants. Each Public or Private Placement Warrant is exercisable at $11.50 per share, subject to adjustment; Pasqal receives proceeds from exercises to the extent the Warrants or Investment Warrants are exercised for cash.
For the six months ended June 30, 2026, revenue was €4.872 million, up 14% from €4.286 million; QPU-related services revenue rose 34% to €3.944 million, primarily reflecting the timing of revenue recognition for the Forschungszentrum Jülich QPU upgrade. Net loss was €53.236 million versus €26.118 million, and operating loss was €59.161 million versus €19.773 million. Cash and cash equivalents were €110.835 million at June 30, 2026. Management said that cash and proceeds from the Business Combination and March 2026 Financing would be sufficient for working capital and capital expenditure needs for the next twelve months.
Pasqal Holding SA (PSQL) reported first-half 2026 revenue of €4.872 million, up 14% from €4.286 million a year earlier. QPU-related services revenue was €3.944 million, compared with €2.943 million, while cryostat sales were €0.927 million versus €1.342 million.
Net loss widened to €53.236 million from €26.118 million, and operating loss was €59.161 million versus €19.773 million. Employee salaries and benefit expenses included €27.3 million of costs related to BSPCEs, SARs and stock options, compared with €1.0 million a year earlier; the company attributed the increase to new awards and fair-value changes. Professional-services costs were €19.553 million versus €8.261 million, primarily reflecting preparation to become a public company.
Cash and cash equivalents were €110.835 million as of June 30, 2026. The business combination closed on August 27, 2026, and Pasqal received $27.7 million from Bleichroeder’s trust account. The March 2026 Financing brought $250.0 million in aggregate subscription proceeds and included $312.5 million principal amount of senior unsecured convertible bonds and 32,552,083 warrants. The bonds were initially convertible into 26,041,667 ordinary shares; the warrants are currently exercisable at $12.00 per share.