Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
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.
Key Figures
Quantonation I beneficial ownership:21,924,691 shares (10.3%)Quantonation Co-Investment SPV I, LLC beneficial ownership:322,853 shares (0.2%)Co-Invest II beneficial ownership:2,200,858 shares (1.0%)+2 more
5 metrics
Quantonation I beneficial ownership21,924,691 shares (10.3%)Shares held directly by the fund
Quantonation Co-Investment SPV I, LLC beneficial ownership322,853 shares (0.2%)Shares held directly by the LLC
Co-Invest II beneficial ownership2,200,858 shares (1.0%)Shares held directly by the reporting person
Quantonation Ventures SAS beneficial ownership24,448,402 shares (11.5%)Investment manager may be deemed to beneficially own shares held by the three entities
Ordinary shares outstanding212,293,691 sharesAs of September 1, 2026; basis for reported ownership percentages
Key Terms
beneficial owner, Sole Voting Power, Sole Dispositive Power, Percent of class
4 terms
beneficial ownerregulatory
"beneficial owner of 21,924,691 ordinary shares held directly thereby"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
Sole Voting Powerregulatory
"Sole Voting Power 21,924,691.00"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
Sole Dispositive Powerregulatory
"Sole Dispositive Power 21,924,691.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
Percent of classregulatory
"Percent of class: The Fund: 10.3%"
Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many Pasqal (PSQL) shares did the Quantonation reporting persons report owning?
Quantonation I reported 21,924,691 shares, Quantonation Co-Investment SPV I, LLC reported 322,853 shares, and Co-Invest II reported 2,200,858 shares. Quantonation Ventures SAS, their investment manager, reported 24,448,402 shares as beneficially owned through those entities.
What share count was used to calculate the Pasqal (PSQL) ownership percentages?
The percentages were based on 212,293,691 ordinary shares outstanding as of September 1, 2026. That share count was reported in the issuer's registration statement on Form F-1.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Pasqal Holding SA
(Name of Issuer)
Ordinary shares, EUR 0.02 par value per share
(Title of Class of Securities)
F70289107
(CUSIP Number)
08/27/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
F70289107
1
Names of Reporting Persons
Quantonation I
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
FRANCE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
21,924,691.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
21,924,691.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
21,924,691.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
10.3 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: (1) The percent of class is based upon 212,293,691 ordinary shares of Pasqal Holding SAS (the "Issuer") outstanding as of September 1, 2026, as reported in the Issuer's registration statement on Form F-1 (No. 333-298830), filed with the Securities and Exchange Commission on September 1, 2026.
(2) The reporting person is a French fonds professionnel de capital investissement.
SCHEDULE 13G
CUSIP Number(s):
F70289107
1
Names of Reporting Persons
Quantonation Co-Investment SPV I, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
322,853.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
322,853.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
322,853.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.2 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: (1) The percent of class is based upon 212,293,691 ordinary shares of the Issuer outstanding as of September 1, 2026, as reported in the Issuer's registration statement on Form F-1 (No. 333-298830), filed with the Securities and Exchange Commission on September 1, 2026.
(2) The reporting person is a limited liability company.
SCHEDULE 13G
CUSIP Number(s):
F70289107
1
Names of Reporting Persons
FPCI Quantonation Co-Investment SPV II
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
FRANCE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,200,858.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,200,858.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,200,858.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.0 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: (1) The percent of class is based upon 212,293,691 ordinary shares of the Issuer outstanding as of September 1, 2026, as reported in the Issuer's registration statement on Form F-1 (No. 333-298830), filed with the Securities and Exchange Commission on September 1, 2026.
(2) The reporting person is a French fonds professionnel de capital investissement.
SCHEDULE 13G
CUSIP Number(s):
F70289107
1
Names of Reporting Persons
Quantonation Ventures SAS
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
FRANCE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
24,448,402.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
24,448,402.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
24,448,402.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
11.5 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: (1) The reported share amounts consist of ordinary shares of the Issuer held directly by each of (i) Quantonation I, (ii) Quantonation Co-Investment SPV I, LLC and (iii) FPCI Quantonation Co-Investment SPV II, of which the reporting person is the investment manager and, as a result, may be deemed to have beneficial ownership over the securities held directly thereby.
(2) The percent of class is based upon 212,293,691 ordinary shares of the Issuer outstanding as of September 1, 2026, as reported in the Issuer's registration statement on Form F-1 (No. 333-298830), filed with the Securities and Exchange Commission on September 1, 2026.
(3)The reporting person is a French societe par actions simplifiee registered with the Paris Trade and Companies Register under number 849 813 522.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Pasqal Holding SA
(b)
Address of issuer's principal executive offices:
24, rue Emile Baudot, Palaiseau, I0 91120
Item 2.
(a)
Name of person filing:
This Schedule 13G is filed by:
(i) Quantonation I (the "Fund");
(ii) Quantonation Co-Investment SPV I, LLC ("Co-Invest I");
(iii) FCPI Quantonation Co-Investment SPV II ("Co-Invest II"); and
(iv) Quantonation Ventures SAS (the "Investment Manager," and each of the Fund, Co-Invest I, Co-Invest II and the Investment Manager, a "Reporting Person")
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of the Reporting Persons is 58, rue d'Hauteville, 75010 Paris.
(c)
Citizenship:
Quantonation I is a French fonds professionnel de capital investissement, Co-Invest I is a Delaware limited liability company, Co-Invest II is a French fonds professionnel de capital investissement and the Investment Manager is a French societe par actions simplifiee registered with the Paris Trade and Companies Register under number 849 813 522.
(d)
Title of class of securities:
Ordinary shares, EUR 0.02 par value per share
(e)
CUSIP Number(s):
F70289107
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The Fund is the beneficial owner of 21,924,691 ordinary shares held directly thereby, of which it has sole voting and dispositive power. Co-Invest I is the beneficial owner of 322,853 ordinary shares held directly thereby, of which it has sole voting and dispositive power. Co-Invest II is the beneficial owner of 2,200,858 ordinary shares held directly thereby, of which it has sole voting and dispositive power. The Investment Manager may be deemed to beneficially own the shares owned by each of the Fund, Co-Invest I and Co-Invest II, as the investment manager of each such Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
N/A
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Quantonation I
Signature:
/s/ Christophe Jurczak
Name/Title:
Christophe Jurczak, President of Investment Manager
Date:
10/07/2026
Quantonation Co-Investment SPV I, LLC
Signature:
/s/ Christophe Jurczak
Name/Title:
Christophe Jurczak, President of Investment Manager
Date:
10/07/2026
FPCI Quantonation Co-Investment SPV II
Signature:
/s/ Christophe Jurczak
Name/Title:
Christophe Jurczak, President of Investment Manager
