BBCQ securities are no longer trading on Nasdaq and the SPAC entity is dissolved. Existing holders now hold shares of Pasqal Holding SA (private). Monitor for any future listing or liquidity events for New Pasqal.
Price Chart
Executive Summary
Bleichroeder Acquisition Corp. II (BBCQ) filed a Form 15 to terminate its SEC registration following its August 27, 2026 merger into Pasqal Holding SA (New Pasqal). The SPAC's units, Class A shares, and warrants were delisted from Nasdaq and all outstanding shares were converted into New Pasqal ordinary shares. This is a routine post-merger deregistration — the SPAC no longer exists as a separate public entity.
Key Facts
- Filed Form 15-12G on September 8, 2026, effective same day.
- Deregistration follows the August 27, 2026 Reincorporation Merger under the Business Combination Agreement dated February 28, 2026.
- Bleichroeder Acquisition Corp. II merged into Merger Sub and ceased to exist; Legacy Pasqal then merged into Merger Sub, which renamed to Pasqal Holding SA.
- All outstanding Class A and Class B ordinary shares converted into one ordinary share of Merger Sub; warrants converted into warrants for Merger Sub shares.
- Units, Class A ordinary shares, and redeemable warrants were delisted from Nasdaq and deregistered under Section 12(b) of the Exchange Act.
- Pasqal Holding SA is the successor issuer under Rule 12g-3(a).
- Zero holders of record of the covered securities as of the certification date.
Financial Impact
No financial impact — the SPAC was dissolved in a merger; all securities converted to New Pasqal shares.
Risk Factors
- BBCQ securities are delisted and deregistered — no further public trading or SEC reporting for the SPAC.
- Holders received New Pasqal shares, which are not publicly traded; liquidity is extremely limited.
- No further SEC filings from Bleichroeder Acquisition Corp. II — transparency ends.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 15-12G Filing (Primary) | 0001213900-26-098029 |
| Document: 0001213900-26-098029-index-headers.html | 0001213900-26-098029 |
| Document: 0001213900-26-098029-index.html | 0001213900-26-098029 |
| Document: 0001213900-26-098029.txt | 0001213900-26-098029 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 8, 2026 6w ago | 15-12G | — | awaiting T+20 | — | — |
Aug 20, 2026 9w ago | 425 / 8-K | $10.18 | awaiting T+20 | — | — |
Jun 30, 2026 16w ago | 425 | $10.39 $10.21 | ▼ −1.73% | ▲ +0.45% | — |
Jun 30, 2026 16w ago | 8-K | $10.39 $10.21 | ▼ −1.73% | ▲ +0.45% | — |
Mar 5, 2026 33w ago | 8-K | $10.06 $10.01 | ▼ −0.50% | ▲ +3.29% | — |
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