Nobel-Backed Pasqal Surges 43% in Nasdaq Debut After $2 Billion Merger

Pasqal Holding SA shares closed up 43% during their Nasdaq debut on Friday. The stock reached an intraday high of 73% earlier in the session. The French quantum computing firm began trading under the ticker PSQL.

The listing followed a merger with the blank-check firm Bleichroeder Acquisition Corp. II. This transaction valued Pasqal at approximately $2 billion. The deal provides the company with $360 million in cash to expand production and technology.

2022 Nobel Prize winner Alain Aspect co-founded the company. Pasqal develops quantum computers using neutral-atom technology. Its commercial client list includes Saudi Aramco.