Pasqal secures $250m convertible financing for quantum-computing expansion
Initially announced in March, the financing was amended in May and completed alongside the company’s August business combination.
Pasqal received $250 million from a convertible financing completed on 27 August 2026. The financing was first announced on 4 March as a $200 million commitment, with the agreement amended on 23 May.
Investors subscribed for $312.5 million in convertible-bond principal and associated warrants, producing $250 million in cash proceeds. The financing completed alongside Pasqal’s business combination with Bleichroeder Acquisition Corp. II.
Pasqal builds quantum processors using laser-controlled neutral atoms. Its development plans include expanding production capacity, advancing quantum-computing research and growing its commercial operations.
Use of funds
Quantum computing research and development
Production capacity
Commercial expansion