Source: CNBC
Summary
French quantum company Pasqal is going public on the Nasdaq through a SPAC deal, valuing the company at $2 billion pre-money, according to CNBC. The deal is set to be completed in the first quarter of 2024. Pasqal is a quantum computing company that uses neutral atoms to build quantum processors. The company has raised $100 million in funding from investors such as Quantonation and Daphni. Pasqal’s CEO, Georges-Olivier Reymond, said the listing would help the company accelerate its growth.
Our Reading
The launch follows a familiar script.
Pasqal’s SPAC deal is just the latest in a long line of quantum companies going public with big valuations. The company’s use of neutral atoms is not new, but the $2 billion valuation is certainly eye-catching. Pasqal’s CEO says the listing will help the company grow, but it’s hard not to feel like we’ve seen this movie before. “Because what the world really needed was another overvalued quantum company on the Nasdaq.”
Author: Evan Null
