Bleichroeder and Pasqal amend merger agreement to revise equity incentive plan terms

Bleichroeder Acquisition Corp. II

Amendment No. 3 revises the LTIP to allow awards up to 10% of outstanding shares post-closing.
Awards may be in the form of founder's warrants (BSPCEs) or free shares.
Parties will negotiate further edits including performance-based vesting criteria based on compensation consultant recommendations.
Amendment is effective July 22, 2026, and contingent on closing of the business combination.

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