French quantum computing company Pasqal has completed its Special Purpose Acquisition Company (SPAC) merger with Bleichroeder Acquisition Corp. II.

Following the deal’s close, Pasqal began trading on the Nasdaq on August 28.

The transaction has provided Pasqal with approximately $360 million in cash and the company plans to use the funds to support its growth, including expanding the manufacturing and deployment of its quantum processing units (QPUs), advancing its technology roadmap, and scaling its commercial operations globally.

“Today is not a finish line; it is an acceleration point,” said Wasiq Bokhari, CEO of Pasqal. “Pasqal was built to take neutral-atom quantum computing from foundational science to industrial-scale deployment. We have deployed quantum systems in real operating environments, connected our processors to the computing infrastructure customers already use and established a roadmap built on a single hardware platform that delivers state-of-the-art analog quantum computing today and is designed to enable industry-leading fault-tolerant quantum computing in the future … As a public company, we will have a stronger platform to move faster, serve customers around the world and build enduring value for shareholders.”

Pasqal was founded in 2019, and its co-founder, Professor Alain Aspect, was awarded a Nobel Prize in 2022 for his work on entangled photons. Unlike other quantum technologies that require supercooling, its neutral atom-based quantum technology can operate at room temperature.

The French firm is the fourth quantum computing company to go public via a SPAC merger in 2026, following Infleqtion, IQM Quantum Computers, Quantinuum. D-Wave, IonQ, and Rigetti have also all previously completed SPAC mergers in order to take themselves public. Xanadu Quantum is still in the process of completing its own SPAC merger.

In August, DCD covered the financial results of D-Wave, Infleqtion, IonQ, IQM, Quantinuum, and Rigetti.

In addition to completing its merger last week, Pasqal announced plans to deploy its quantum computers in Saudi Arabia, in partnership with venture capital firm Eleven Ventures.

It comes three months after the quantum computing company announced that it had built a quantum computer in collaboration with the kingdom’s state-owned oil company, Aramco. That followed a major investment in the startup by Aramco’s domestic venture arm, Wa’ed Ventures, which saw both companies explore niche applications for quantum computing such as well placement, rig scheduling, and port logistics that classical computers find difficult to optimize.