Reed Smith Advised Bleichroeder Acquisition Corp. II on $2 billion Business Combination with French Neutral Atom Quantum Computing Company Pasqal

Reed Smith Advised Bleichroeder Acquisition Corp. II on $2 billion Business Combination with French Neutral Atom Quantum Computing Company Pasqal

Global law firm Reed Smith advised Bleichroeder Acquisition Corp. II, a SPAC, on its business combination with Pasqal Holding SAS, a neutral atom quantum computing company headquartered in France. The transaction values Pasqal at a pre-money equity value of $2 billion and includes $200 million in committed convertible financing. The combined company will operate as Pasqal and is expected to list on Nasdaq.

Pasqal already has one of the largest commercial deployments in the neutral atom quantum computing space, with seven quantum computers serving more than 25 enterprise, scientific, and government customers and partners. The business combination is expected to provide more than $600 million in gross proceeds to further advance commercialization and development of fault-tolerant quantum computing systems.

The international Reed Smith deal team included Lyn Reinhardt (Partner), Jocelyne Kelly (Partner), Guilain Hippolyte (Partner), Liz Graffeo (Partner), Michael S. Lee (Partner), Ashley Jaber (Counsel), Angelo Ciavarella (Partner), and Benoît Bernard (Partner).

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