Pasqal Holding SA (PSQL) reports that director Nicolas Berdou has filed an initial statement of beneficial ownership of securities. The filing does not list any transactions or any Pasqal Holding SA securities currently owned, either directly or indirectly, by the reporting person.
Pasqal Holding SA (PSQL), a French quantum computing company, completed its business combination with SPAC Bleichroeder Acquisition Corp. II on August 27, 2026, creating “New Pasqal” and listing its Ordinary Shares and public warrants on Nasdaq under the symbols PSQL and PSQLW.
The merger dissolved Legacy Pasqal into the surviving French entity via a fusion-absorption, issuing 200,000,000 Ordinary Shares to former Legacy Pasqal shareholders at an exchange ratio of 22.736. As of August 27, 2026, Pasqal had 212,293,691 Ordinary Shares outstanding. Heavy SPAC redemptions removed 26,039,602 shares and about $266.0 million from the trust, leaving roughly $27.7 million released at closing.
To fund growth, Pasqal closed a March 2026 financing of $312.5 million Senior Unsecured Convertible Bonds (initially convertible into 26,041,667 shares at $12.00) and 32,552,083 Investment Warrants at $12.00, contributing to pro forma cash of €343.8 million but also pro forma debt of €413.3 million and negative equity of €35.1 million. New risk factors highlight French foreign investment controls that can restrict non‑EU investors crossing a 10% voting threshold, potentially affecting liquidity and change-of-control transactions.
Pasqal also reports strategic Saudi Arabia activity: a memorandum of understanding with Eleven Ventures to form a joint venture “Pasqal Arabia” (subject to board approval and definitive agreements) and a research collaboration agreement with KACST to advance quantum technologies and quantum-safe cryptography, both aimed at expanding its regional footprint but with no assured commercial outcomes.