MergerMay 7, 2026, 05:27 PM
Bleichroeder Acquisition II to Merge with Pasqal
AI Summary
Bleichroeder Acquisition Corp. II announced it entered into a definitive merger agreement with Pasqal Holding SAS on February 28, 2026, which will result in Pasqal Holding SA becoming the surviving entity. For the three months ended March 31, 2026, the company reported a net loss of $(2,692,419) and had $1,331,014 in cash. The company also disclosed a working capital deficit of $2,930,576 and raised substantial doubt about its ability to continue as a going concern, planning to address this through the Business Combination.
Key Highlights
- Entered into a merger agreement with Pasqal Holding SAS on February 28, 2026.
- Trust Account held $289,715,723 in investments as of March 31, 2026.
- Reported a net loss of $(2,692,419) for the three months ended March 31, 2026.
- Cash balance was $1,331,014 as of March 31, 2026.
- Total assets reached $291,396,102 as of March 31, 2026.
- Total liabilities were $16,746,580 as of March 31, 2026.
- Class A ordinary shares subject to redemption totaled $289,715,723.
- Noted a working capital deficit of $2,930,576 as of March 31, 2026.