Recent Updates — BBCQU

Bleichroeder Acquisition Corp. II consummated its business combination with Pasqal Holding SAS on August 27, 2026, resulting in the surviving entity being renamed Pasqal Holding SA. The transaction established a capital foundation of approximately $360 million in cash to accelerate global quantum-system deployment and commercial adoption. Bleichroeder’s securities were delisted from Nasdaq, while New Pasqal shares and warrants are expected to begin trading on August 28, 2026, under the ticker symbols “PSQL” and “PSQLW.” All directors and officers of the former SPAC resigned upon closing. Pasqal Holding SA is a global leader in neutral-atom quantum computing that builds and operates quantum computers for industry, science, and governments.

Bleichroeder Acquisition Corp. II shareholders approved the business combination with Pasqal Holding SAS at an extraordinary general meeting on August 25, 2026. The transaction was supported by 21,467,865 votes in favor against 2,616,196 opposed. Public shareholders elected to redeem 26,039,602 Class A ordinary shares. The company operates as a blank check company focused on completing a merger with a quantum computing firm.

Bleichroeder Acquisition Corp. II issued a joint press release with Pasqal Holding SAS reminding shareholders to vote on the proposed business combination at an extraordinary general meeting scheduled for August 25, 2026. The SEC declared the parties' joint registration statement effective on August 5, 2026, and proxy materials were mailed to shareholders of record as of August 4, 2026. Pasqal is a global leader in neutral-atom quantum computing backed by over USD 300 million in funding. This filing serves as a procedural reminder for the pending merger transaction.

The SEC declared effective the Form F-4 registration statement for the proposed business combination between SPAC Bleichroeder Acquisition Corp. II and Pasqal Holding SAS on August 5, 2026. This regulatory approval is a critical milestone enabling the merger to proceed toward completion. Bleichroeder has scheduled an extraordinary general meeting for August 25, 2026, to seek shareholder approval for the transaction. Upon closing, the combined entity will operate as Pasqal Holding SA and trade on Nasdaq under the ticker PSQL. The deal remains subject to customary closing conditions and final shareholder vote. Pasqal is a global leader in neutral-atom quantum computing technology.

Bleichroeder Acquisition Corp. II entered into Amendment No. 3 to its Business Combination Agreement with Pasqal Holding SAS on July 22, 2026. This amendment revises the terms of the equity incentive plan (LTIP) to be adopted by the surviving corporation following the merger. The revised LTIP will allow for awards in the form of founder’s warrants or free shares, totaling up to 10% of the aggregate number of the surviving corporation's shares issued and outstanding on a fully-diluted and as-converted basis. The parties will negotiate additional performance-based vesting criteria for new award recipients. Bleichroeder Acquisition Corp. II is a special purpose acquisition company (SPAC).