Inflection Point Acquisition Corp IV (BACQ) News & EventsBACQNews & EventsInflection Point Acquisition Corp IV

Merlin Completes Business Combination with Inflection Point, Valued at $800 Million

Merlin, an aerospace and defense technology company that says it is "building the operating system of record for autonomous flight," announced the closing of its business combination with Inflection Point Acquisition Corp. IV, a SPAC led and backed by the management team of Inflection Point Asset Management. The business combination formally closed on March 16. On March 17, the combined company will begin trading on Nasdaq under the ticker symbol "MRLN." The company stated: "The transaction provides approximately $200 million in gross proceeds, including a fully committed PIPE anchored by Inflection Point, existing Merlin investors, including Baillie Gifford, and several new institutional investors. The capital further strengthens the company's balance sheet. As a leading defense prime contractor for AI-powered autonomous aviation, the deal values Merlin at $800 million pre-money." Matt George, CEO and founder of Merlin, added: "At Merlin, we are rethinking what flight can be. Aviation up to now was defined by the humans who fly aircraft - and so aviation design, engineering, and operations reflected a human focus. Merlin was founded on the insight that, when you challenge that core human-centricity and all its related assumptions, the nature and possibilities of aviation change. We believe those shifts create a massive economic and industrial opportunity. We are working with our customers and partners to identify all the ways that assured autonomy can solve real problems and meaningfully improve mission execution and outcomes. We hope our investors will appreciate and understand our methodical approach to innovating and building for the long term."

Merlin to go public through Inflection Point Acquisition Corp IV combination

Merlin and Bleichroeder Acquisition Corp., which will be renamed Inflection Point Acquisition Corp IV (BACQ), announced that they have entered into a definitive business combination agreement. The proposed transaction is expected to close in early 2026, subject to customary closing conditions, including regulatory and shareholder approval. The deal values Merlin at $800M pre-money, and has over $125M in committed PIPE capital, $78M of which has been funded at the BCA signing to further accelerate growth. The business combination is expected to deliver gross proceeds of at least $128M from the committed PIPE, with up to $257M additional proceeds depending on redemptions. The boards of directors of both Merlin and Bleichroeder have unanimously approved the proposed transaction. The deal is expected to close in early 2026, subject to customary closing conditions, including approval by Bleichroeder shareholders and regulatory review.