Pasqal Shares Nearly Double in Nasdaq Debut
French quantum computing firm Pasqal saw its share price nearly double on its first day of trading on the Nasdaq following a merger with a SPAC. The company plans to use the $360 million in capital to scale its neutral-atom quantum hardware and expand its international commercial operations.
Why it matters
This successful public debut signals growing investor confidence in the commercial viability of quantum computing hardware and industrial-scale applications.
Pasqal shares nearly doubled during the French quantum computing company’s first day of trading on Nasdaq, reflecting strong investor interest in one of Europe’s leading quantum hardware developers.
The shares closed Friday at $19.11, up 95.2% from Bleichroeder Acquisition Corp. II’s previous closing price of $9.79. Pasqal opened at $16.98 and traded as high as $20.10 before retreating from the session peak. About 3.7 million shares changed hands during the day. Pasqal now trades under the ticker symbol PSQL, while its warrants trade as PSQLW. Market data showed the shares fell about 10% in after-hours trading.
The debut followed Pasqal ’s merger with Bleichroeder , a special purpose acquisition company, or SPAC. Bleichroeder shareholders approved the combination Aug. 25, and the companies completed the transaction Aug. 27.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in